Charities in England and Wales: trustees’ responsibilities
It is often considered an honour to act as a trustee for a charity and an opportunity to give something back to the community. We outline the main responsibilities with an emphasis on accounting and audit requirements. This includes the need to keep accounting records and submitting annual reports and accounts to the Charity Commission. Whether a charity requires an audit depends on the amount of income they generated and the type of charity they are. For Charities in England and Wales, all charities where their income is in excess of £1,000,000, an audit is required.
Charities in Scotland: trustees’ responsibilities
We consider the various responsibilities of being a Scottish Charity Trustee with emphasis on accounting and audit requirements. Some of these requirements include; keeping full and accurate accounting records, preparing annual report on its activities and ensuring audits or independent examinations have taken place. We can discuss what is required of your charity as every individual charity will have different requirements depending on their income generated and the type of charity. For Charities in Scotland, all charities where income exceeds £500,000 require an audit.
Community amateur sports clubs
Many local amateur sports clubs register with HMRC as Community Amateur Sports Clubs (CASCs) and benefit from a range of tax reliefs including Gift Aid. We consider the rules and their implications. You may not know the full benefits you are entitled to as well as the specific conditions CASC clubs must meet to gain these benefits.
Each case of insolvency is specific to an individual or company. We consider the options available and their implications for both personal and corporate insolvency. If you are unsure about the options that are available to you, we’d be very happy to examine them with you.
Limited Liability Partnerships
Deciding whether you should set up as a Limited Liability Partnership can be quite difficult as there are key features of LLP’s which you must know about. We can help you decide if setting up as an LLP is the best option for your business.
Tough rules apply to tackle money laundering and the proceeds of crime. The rules affect a wide range of people and we consider how your organisation may be impacted.
Money Laundering – high value dealers
We outline the procedures to be adopted with regards to the regulations aimed at preventing money laundering. One solution is to complete Anti-money laundering procedures to verify the identities of your clients. However, there are many other procedures that you can adopt
Social enterprise entity structures
A social enterprise entity is a business with primarily social objectives. Any surpluses made are reinvested into the main principle of that entity (or into the community) rather than maximising profit for shareholders. We consider the various legal forms and which one will be the most appropriate.
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