Find out all the details of next week’s Finance Network Meeting, including how to book your place! The session takes place on 15 February 2023 and covers the topic VAT.
This is a quick reminder that the next Finance Network Meeting will take place on Wednesday 15 February from 11:00 – 12:30. Staff from Crowe LLP will be updating on all things VAT, including highlighting the most important issues to consider. Read on for full details or click here to book your place.
With its ever-widening scope; constantly updated regulations and case law governing; plus the onerous demands of HMRC; VAT is notoriously complicated.
Whatever the size of the organisation, managing the charity’s VAT position requires a proactive and strategic approach to identifying opportunities and reducing risk. For example, are you confident, if your charity and any trading subsidiaries are not registered for VAT, that this is correct? Have you considered the VAT impact of any changes to your operations? Have you planned and budgeted for a regular review of your organisation’s VAT position? In certain circumstances VAT registration can be a financial benefit to the organisation, when charity shops are involved, for example.
To this end we would actively encourage all Local Age UKs, whether VAT registered or not, to attend our next Finance Network meeting on the 15 February 2023 (11AM start) when Crowe UK LLP, our Age UK VAT Helpline support provider, will be updating on all things VAT highlighting the most important issues to consider and covering topics they regularly receive enquiries on, including:
- VAT registration; what counts towards the threshold?
- The reverse charge
- VAT reliefs for charities
- Welfare Services; including specific services such as routine domestic tasks
- Fundraising; when does exemption apply?
- Charity shops; retail gift aid, sale of donated goods, sale of bought in goods
- Business/Non-business activity
- Partial Exemption Special Methods
- How to correct errors
- New penalty regime
Submitting Questions in Advance
There will be opportunity to ask questions on the day. However, if you have any particular questions that you would like answered or other areas of interest that you would like covered, subject to time allowing on the day, please send them to John.Fox@ageuk.org.uk . It would be helpful to receive these in advance, no later than close of play on Tuesday 7 February, and we will flag with Crowe so they can prepare appropriately.
Book your place!
To book your place at the meeting, or if unable to attend on the day, to request a copy of the slides and the recording, please click here.
Please share this information with colleagues in your organisation who you feel would be interested in attending and encourage them to do so.
You will see a brief confirmation on screen once you have submitted your registration form. You will not receive a confirmation email. The Teams Meeting Link and Joining Instructions will be sent to you directly by the Financial Governance Team nearer the time of the event in the usual way. So, please fill in the form using the above link, ensuring your contact details are correct, book out the time in your diary and watch out for the Teams meeting link email.
January 2023 Finance Network Meeting Recording
For this Finance Network Meeting we welcomed the return of Nick Wilkie, former charity chief executive and current chair who teaches and consults at The Centre for Charity Effectiveness at Bayes Business School. Nick presented on the subject: ‘In an outlook of increasing demand, spiralling costs and falling income, what can, should and must charity leaders do next?’
Click here to view the meeting recording.