Is the SORP FRS 102 working for you?

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May 5, 2016 at 17:46

On the 4th May the Charity Commission for England and Wales and the Office of the Scottish Charity Regulator (OSCR) published a research consultation on charities Statement of Recommended Practice (SORP) FRS 102.

Which SORP is right for you?

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April 5, 2016 at 17:05

Helena Wilkinson of Price Bailey weighs up the benefits and challenges for smaller charities that are deciding which SORP they should use, and provides some practical advice.

Affinity Deals: What do you need to know?

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February 5, 2016 at 13:57

Yesterday saw a story on the front page The Sun about an affinity deal between Age UK and E.on. While this blog post doesn’t focus on the details of this story, it has raised some issues that charities need to be aware of . I seek to explain affinity deals and what charities need to consider when deciding whether to enter these arrangements.

Lessons to take away from Kids Company report

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February 1, 2016 at 11:34

The Public Administration and Constitutional Affairs Committee (PACAC) report on the failure of Kids Company has been released. The report has a number of lessons that the charity sector needs to learn, this blog post outlines some of the main points that we should take away from a finance perspective.

What did the Romans ever know about data protection?

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January 19, 2016 at 17:33

As usual, quite a lot. Caesar famously used his cipher device to protect important and sensitive military data among his generals. So what can we learn from the famous Roman?

Can charities help end the ‘pushmi-pullyu’ of local government spending to support prevention?

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March 16, 2015 at 09:14

The recent Joseph Rowntree Foundation report on ‘The cost of the cuts: the impact on local government and poorer communities’ makes for fascinating reading. There is a lot of analysis and statistics on how the frontloading of government spending cuts on local government have hit services and communities, as well as the voluntary sector. While there are a number of worrying issues highlighted by this report, from the point of the view of charities and the sector’s finances, the most worrying was the squeeze on spending on preventative services and the lack of capacity of local authorities to undertake full […]

What’s really new about the new SORP?

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August 5, 2013 at 12:22

We haven’t had a new SORP since 2005, and in that time we have managed to bring in a whole new accounting framework in the UK.  Despite this, if you ask the average charity auditor what difference the new SORP is going to make day-to-day, the answer is likely to be, ‘erm, probably not much’. Many of the major issues that had the potential to de-rail charities were dealt with in earlier consultations on the accounting standards – such as valuing donated stock in charity shops.  It’s important to remember that the SORP only interprets and provides guidance on these […]

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, […]

De-regulation for the sake of it?

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March 14, 2013 at 12:10

The Government’s ‘red tape challenge’ sounds like some sort of physical assault course; conjuring images of hapless workers wading through paperwork, red tape tied round their ankles, tripping over giant copies of the tax code and stumbling into open filing cabinets spilling over with old employment contracts.  Underneath the rhetoric, the implication is that the current state of ‘regulation’ hinders business and innovation; the Government wants us to tell them what bits to scrap.  Unless talking about bankers, the idea that regulation is a catalyst for fair business is all but lost.  This is despite the fact that we have […]

Reviewing the reviews: charity law, regulation and red tape

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August 10, 2012 at 15:27

Charity law and regulation and its implementation, not normally issues to excite the sector, have been given unusual prominence lately and are certainly keeping those with an eye on charity policy busy this summer. Last month we had both the publication of Lord Hodgson’s much anticipated independent review of the 2006 Charities Act and the closure of the Charity Commission’s consultation on the charity register. Our civil society minister, Nick Hurd MP, has written to sector leaders seeking input to the Government response to the Hodgson review, submissions for the Civil Society Red Tape Challenge are due in September and […]