Latest blogs for Not For Profit

9th August 2017 Charities bound by new Fundraising Preference Service

  A new service is now available for individuals who want to limit the contact they receive from charities. The Fundraising Preference Service (FPS) should give individuals greater control over how and when charities can contact them. The FPS, which launched on 6 July, allows individuals to select charities that they no longer want to…

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21st March 2016 Not For Profit Funding

Community Business Fund Grants: Apply now. If you operate a community business or a trading not for profits organisation then there are grants being awarded between £50k – £300k to support and develop these activities.  Applications for grant funding opens on 26h April 2016 and you can register your interest from 5th April 2016. See the…

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3rd July 2015 VAT Tribunal

Charities VAT: investment management fees are now reclaimable. A tribunal finding in favour of Cambridge University Endowment Fund could lead to financial benefit for a host of charities who have previously been unable to reclaim input VAT on ‘non-business’ investment fund fees. The Cambridge University Endowment Fund argued that it could reclaim some of the VAT…

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1st May 2015 Charity Audit Legislation

Charities: Changes to audit exemption thresholds. Changes to charity audit thresholds came into force on 31 March 2015, aimed at reducing the regulatory burden for charities. They include increasing the basic audit threshold from £500,000 to £1 million, meaning less charities will be required to subject their accounts to a statutory audit. Those charities can instead…

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16th July 2014 Charity Accounting Disclosures

New Charities SORP Published The new Charities SORP was published today and will apply to the accounts of charities for financial years commencing on or after 1 January 2015. There are two versions, one based on Financial Reporting Standard FRS 102 (new UK GAAP which replaces all earlier financial reporting standards) and a second for…

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6th May 2014 CIC’s

Dividend Cap on CIC’s. Community Interest Companies (CIC’s) are a relatively new type of company designed for enterprises with social purpose that want to use their profits and assets for public good. There are now over 8,000 CIC’s on the public register at Companies House. However, CIC’s are subject to an asset lock to ensure…

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10th September 2013 Business Rates Relief

Higher Business Rates for Not for Profit Organisations within East Cambs District. Since March 2012, East Cambridgeshire District Council (ECDC) has been reviewing it’s policy on granting Discretionary Relief on business rates to give assistance to charitable and not for profit organisations that may have difficulty in paying their rates and are of benefit to the…

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