First thoughts on impact of interest rates cut on charities

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August 4, 2016 at 17:54

For the first time since 2009 the Bank of England has moved interest rates, not up but down, to 0.25%. What does this mean for charities? Here are my first thoughts on this important economic decision.

EU Referendum: What could this mean for charities?

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June 6, 2016 at 17:10

As the 23rd June appears closer and closer this Europe’s Final Countdown song has never felt more relevant as the UK public decides whether they will be voting to remain or leave European Union (EU).

Hunting for the silver lining; the IFS, the economy and charities.

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February 12, 2016 at 15:07

This week I attended the IFS’s Green Budget 2016 event, which provides an essential commentary on the economic issues facing the current government over the next Parliament. The report comes at a pertinent time as the world economy faced a turbulent week in the stock markets. I’m going to look what this could mean for the charity sector by 2020.

Banking and Payment Systems: Invisible Enables for Charities

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November 24, 2015 at 14:35

Charity Finance Group has launched a sector-wide consultation on banking and payment systems. But why are we doing this and how can you help?

A change in economic outlook- is your charity sinking or swimming… tell us!

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January 24, 2014 at 15:12

As the economy is beginning to show tentative signs of recovery, the most pressing question on the minds of many in the charity sector is how this will impact on their organisations. Whilst during the recession the charity sector has proven itself to be both resilient and flexible in its battle to cope with increased demand and reduced funding; the impact of the economic downturn has been significant with charities experiencing challenges such as cuts in frontline staff, closure of services and a drop in donations. The widespread effect of these tough economic times on the charity sector has been […]

FATCA: What charities need to know

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May 10, 2013 at 10:59

Eva Abeles and Melora Jezierska provide an update on the current status of FATCA legislation and its implications for the charity sector It is fair to say that FATCA (the Foreign Account Tax Compliance Act) has not been on the charity world’s radar as it is, after all, a piece of US tax legislation.  However, charities operating internationally should be aware of FATCA to ensure they are not inadvertently caught by the rules.  What is FATCA? FATCA is extra-territorial US legislation which seeks to combat US tax evasion in a rather heavy-handed manner.  It requires foreign financial institutions (‘FFIs’), e.g. banks, […]

Banking Standards Commission report sparks further debate on the banking reforms

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December 21, 2012 at 14:34

Today the long and messy process of reforming the banking sector to avoid another catastrophe got shaken up by the publication of the Parliamentary Commission on Banking Standards’ report on the reforms.  A shake up which could also affect the way the reforms impact charities. The Commission was set up following the LIBOR scandals to look at standards in banking, and was also tasked with conducting pre-legislative scrutiny of the Banking Reform Bill, the Treasury’s package of measures (based on the Independent Commission on Banking’s recommendations) to reform the banking sector to increase competition, stability and integrity. The Commission’s scrutiny […]

FATCA: The facts (plus a few observations)

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December 20, 2012 at 10:50

Few people outside of the financial services industry have heard of the Foreign Account Tax Compliance Act (FATCA), and even fewer would expect it to have any direct impact on UK charities. However, the early signs are that this complex piece of US legislation will add another unwanted layer of red tape to UK charity regulation.  But before delving into what it might mean for charities, here’s a brief summary of the legislative beast that is FATCA: FATCA is new US legislation aimed at combating tax evasion by US residents using foreign accounts – an uncontroversial policy goal but with […]

Banking reform shouldn’t put charities at risk

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July 13, 2012 at 14:15

Apart from the respite provided by expense-fiddling MPs and phone hacking journalists, banks have dominated the headlines as the UK’s biggest villains for the past few years.  Even now they’re back in the news for the wrong reasons. While individuals’ heads have rolled, since 2008 the Government has been under huge pressure to do more – to detoxify the banks and make our banking system safer and more stable.  In June, following recommendations from the Independent Commission on Banking, the Government laid out its plans for fundamental change in its banking reform white paper. Unfortunately, lurking in the white paper […]