Civil Society Article on the Impact of Inflation on Charities

This Civil Society article looks at some of the challenges posed by rising inflation and suggests some steps that charities can take.

With inflation in the UK jumping to its highest level in 40 years, charities are likely to face both new financial challenges and increased demands to support people. This Civil Society article looks at some of the challenges this will pose and suggests some steps that charities can take. Click here to view the article.

February Finance Network Meeting – One week to go!

Book your place at the next Finance Network Meeting on February 23rd from 11:00 – 12:30. This session will focus on the topic “VAT”.

The February Finance Network Meeting will take place on Wednesday 23 February 2022 from 11am – 12:30pm and will cover the topic “VAT”. Our Age UK VAT Helpline support provider Crowe LLP, will be updating us on all things VAT, focussing on areas which have affected many charities over the past eighteen months. Find out full details of the meeting, including how to book your place, below.

Research commissioned by the Charity Tax Group (CTG) and published in November 2020 found that the VAT levied on charities when they purchase goods and services (input VAT) stands at around £3.1 billion per year – of which, £1.8 billion (57%) is believed to be irrecoverable. This compares to previous estimates of irrecoverable input VAT ranging from £1 billion to £1.4 billion (Charity Tax Group and Nuffield Foundation, 2011), a notable increase and significant burden on the charity sector.

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 such as charity shops for example.

Finance Network Meeting – 23rd February

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 23 February 2022 (11am-12:30pm) when Crowe UK LLP, our Age UK VAT Helpline support provider, will be updating on all things VAT focussing on areas which have affected many charities over the past eighteen months including:

  • Covid-19 Partial Exemption Special Method
  • VAT Reliefs for Charities
  • VAT Grouping
  • Provision of Welfare Services
  • Grant vs Contract

A list of all the topic areas to be covered can be found here.  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 Wednesday 16th February, and we will flag with Crowe so they can prepare appropriately.

Book your place

To book your place, and / or to subsequently receive a copy of the recording of the event and the slides, please email John.Fox@ageuk.org.uk with: your name and role title; the name of the Brand Partner you are representing; and the email address to which the follow-up material should be sent. We would be grateful if you could confirm in your email whether you will be attending on the day or just requesting access to the meeting recording and supporting slides – thank you.

Please share this information with colleagues in your organisation who you feel would be interested in attending and encourage them to do so.

Reminder: Finance Network Meeting – Wednesday 23rd February

A quick reminder to book your place at the next Finance Network Meeting on February 23rd from 11:00 – 12:30. This session will focus on the topic “VAT”.

A reminder that the February Finance Network Meeting will take place on Wednesday 23 February 2022 from 11am – 12:30pm and will cover the topic “VAT”. Our Age UK VAT Helpline support provider Crowe LLP, will be updating us on all things VAT, focussing on areas which have affected many charities over the past eighteen months. Find out full details of the meeting, including how to book your place, below.

Research commissioned by the Charity Tax Group (CTG) and published in November 2020 found that the VAT levied on charities when they purchase goods and services (input VAT) stands at around £3.1 billion per year – of which, £1.8 billion (57%) is believed to be irrecoverable. This compares to previous estimates of irrecoverable input VAT ranging from £1 billion to £1.4 billion (Charity Tax Group and Nuffield Foundation, 2011), a notable increase and significant burden on the charity sector.

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 such as charity shops for example.

Finance Network Meeting – 23rd February

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 23 February 2022 (11am-12:30pm) when Crowe UK LLP, our Age UK VAT Helpline support provider, will be updating on all things VAT focussing on areas which have affected many charities over the past eighteen months including:

  • Covid-19 Partial Exemption Special Method
  • VAT Reliefs for Charities
  • VAT Grouping
  • Provision of Welfare Services
  • Grant vs Contract

A list of all the topic areas to be covered can be found here.  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 Wednesday 16th February, and we will flag with Crowe so they can prepare appropriately.

Book your place

To book your place, and / or to subsequently receive a copy of the recording of the event and the slides, please email John.Fox@ageuk.org.uk with: your name and role title; the name of the Brand Partner you are representing; and the email address to which the follow-up material should be sent. We would be grateful if you could confirm in your email whether you will be attending on the day or just requesting access to the meeting recording and supporting slides – thank you.

Please share this information with colleagues in your organisation who you feel would be interested in attending and encourage them to do so.

Finance Focus – Useful Webinar Recordings on Charity Reserves

Moore Kingston Smith (MKS) have recorded a useful webinar on taking a pragmatic approach to reserves. View the webinar below along with links to previous Finance Network Meetings.

Following the January Finance Network meeting (Big Plans, Strategy and Business Models – thinking out loud) presented by Nick Wilkie, we’ve received some suggestions that it would be helpful to have another session on Reserves this year – we plan to do this in a few months’ time. In the meantime, Moore Kingston Smith (MKS) have recorded a Webinar on Reserves which is well worth watching, especially if the active management of reserves is an area with which you may be unfamiliar.

Bearing in mind that there have been several new CEOs appointed across the Network in recent months, we’d also draw your attention to the Finance Network Meeting which Jill Halford, BDO Partner Head of Charities, very kindly presented for us back in May 2021, simply called ‘Charity Reserves’. Please click here to view this session, along with our other recent Finance Network Meetings. If you would like to access PowerPoints from these sessions, please email John Fox (John.Fox@ageuk.org.uk) who will be pleased to send you the link.

February Finance Network Meeting

As mentioned in yesterday’s Signpost, the February Finance Network Meeting will take place on Wednesday 23 February 2022 from 11am – 12:30pm and will cover the topic “VAT”. Our Age UK VAT Helpline support provider Crowe LLP, will be updating us on all things VAT, focussing on areas which have affected many charities over the past eighteen months. You can find out more about the meeting plan here.

To book your place, and / or to subsequently receive a copy of the recording of the event and the slides, please email John.Fox@ageuk.org.uk with: your name and role title; the name of the Brand Partner you are representing; and the email address to which the follow-up material should be sent. We would be grateful if you could confirm in your email whether you will be attending on the day or just requesting access to the meeting recording and supporting slides – thank you.

Please share this information with colleagues in your organisation who you feel would be interested in attending and encourage them to do so.

February Finance Network Meeting – Book your place!

Book your place at the next Finance Network Meeting on February 23rd from 11:00 – 12:30. This session will focus on the topic “VAT”.

The February Finance Network Meeting will take place on Wednesday 23 February 2022 from 11am – 12:30pm and will cover the topic “VAT”. Our Age UK VAT Helpline support provider Crowe LLP, will be updating us on all things VAT, focussing on areas which have affected many charities over the past eighteen months. Find out full details of the meeting, including how to book your place, below.

Research commissioned by the Charity Tax Group (CTG) and published in November 2020 found that the VAT levied on charities when they purchase goods and services (input VAT) stands at around £3.1 billion per year – of which, £1.8 billion (57%) is believed to be irrecoverable. This compares to previous estimates of irrecoverable input VAT ranging from £1 billion to £1.4 billion (Charity Tax Group and Nuffield Foundation, 2011), a notable increase and significant burden on the charity sector.

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 such as charity shops for example.

Finance Network Meeting – 23rd February

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 23 February 2022 (11am-12:30pm) when Crowe UK LLP, our Age UK VAT Helpline support provider, will be updating on all things VAT focussing on areas which have affected many charities over the past eighteen months including:

  • Covid-19 Partial Exemption Special Method
  • VAT Reliefs for Charities
  • VAT Grouping
  • Provision of Welfare Services
  • Grant vs Contract

A list of all the topic areas to be covered can be found here.  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 Wednesday 16th February, and we will flag with Crowe so they can prepare appropriately.

Book your place

To book your place, and / or to subsequently receive a copy of the recording of the event and the slides, please email John.Fox@ageuk.org.uk with: your name and role title; the name of the Brand Partner you are representing; and the email address to which the follow-up material should be sent. We would be grateful if you could confirm in your email whether you will be attending on the day or just requesting access to the meeting recording and supporting slides – thank you.

Please share this information with colleagues in your organisation who you feel would be interested in attending and encourage them to do so.

January Finance Network Meeting – One Week to go!

Just one week to go until the next Finance Network Meeting on January 19th from 11:00 – 12:30. This session will focus on the topic “Big Plans, Strategy & Business Models”.

Just one week to go until the next Finance Network Meeting on 19th January 2022 from 11:00 – 12:30. Nick Wilkie, former charity chief executive, government policy adviser and visiting lecturer at The Centre for Charity Effectiveness, will present on the primary topic: Big Plans, Strategy and Business Models – thinking out loud. Find out how to book your place below.

Nick will share his personal perspectives on leading and landing strategy. Sharing experience not expertise, failure more than triumph, he will reflect broadly across the subject including:

  • making sure everyone in the organisation knows where true north is;
  • knowing who the beneficiaries really are;
  • ensuring all decision-makers properly understand the balance sheet and business model;
  • why things go wrong and how they might get fixed.

Book your place

To book your place, and / or to subsequently receive a copy of the recording of the event and the slides, please email John.Fox@ageuk.org.uk  with: your name and role title; the name of the Brand Partner you are representing; and the email address to which the follow-up material should be sent. We would be grateful if you could confirm in your email whether you will be attending on the day or just requesting access to the meeting recording and supporting slides – thank you.

Please share this information with colleagues in your organisation who you feel would be interested in attending and encourage them to do so.

January Finance Network Meeting – Book your place!

Book your place at the next Finance Network Meeting on January 19th from 11:00 – 12:30. This session will focus on the topic “Big Plans, Strategy & Business Models”.

The first Finance Network meeting of the new year will take place on 19th January 2022 from 11:00 – 12:30. Nick Wilkie, former charity chief executive, government policy adviser and visiting lecturer at The Centre for Charity Effectiveness, will present on the primary topic: Big Plans, Strategy and Business Models – thinking out loud. Find out how to book your place below.

Nick will share his personal perspectives on leading and landing strategy. Sharing experience not expertise, failure more than triumph, he will reflect broadly across the subject including:

  • making sure everyone in the organisation knows where true north is;
  • knowing who the beneficiaries really are;
  • ensuring all decision-makers properly understand the balance sheet and business model;
  • why things go wrong and how they might get fixed.

Book your place

To book your place, and / or to subsequently receive a copy of the recording of the event and the slides, please email John.Fox@ageuk.org.uk  with: your name and role title; the name of the Brand Partner you are representing; and the email address to which the follow-up material should be sent. We would be grateful if you could confirm in your email whether you will be attending on the day or just requesting access to the meeting recording and supporting slides – thank you.

Please share this information with colleagues in your organisation who you feel would be interested in attending and encourage them to do so.

Reminder: December Finance Network Meeting this Wednesday

The next Finance Network Meeting will take place this Wednesday 15th December from 11:00 – 12:30. This session will focus on “Charity Legal Structures”.

A final reminder that the next Finance Network Meeting will take place on this Wednesday December 15th from 11:00 – 12:30 and the key session will be “Charity Legal Structures”. The presenter will be Nick Vaughan, of Paris Smith LLP who has been a volunteer consultant with Cranfield Trust since early 2020. To book your place, and / or to subsequently receive a copy of the recording of the event and the slides, please email John.Fox@ageuk.org.uk with: your name and role title; the name of the Brand Partner you are representing; and the email address to which the follow-up material should be sent. Read on to find out all about the meeting, along with a save the date for January’s meeting.

Over the past 18 months, the Financial Governance Team have discussed charity legal structures with several local Age UKs, following a number of questions raised by partners. So, whether you are looking at changing your business model or want to sense-check that your governance structures are appropriate and fit for purpose as we move towards the next financial year, this will be a very useful session to attend.

The following topic areas will be included:
  • Use of Subsidiary Companies for non-primary purpose trading, and consideration of their use for primary purpose trading also
  • Risk considerations – the avoidance of risk to charity assets
  • Independent governance (not all the charity trustees are directors of the subsidiary, and vice versa)
  • Financing aspects – start-up funding; working capital; investment / loans (from the parent charity)
  • Shared premises / staff / facilities – cross-charging / management charges
  • Use of charity logo by subsidiary companies

To book your place, and / or to subsequently receive a copy of the recording of the event and the slides, please email John.Fox@ageuk.org.uk with: your name and role title; the name of the Brand Partner you are representing; and the email address to which the follow-up material should be sent. Read on to find out all about the meeting.

January Finance Network Meeting – Save the Date

With lots of staff set to take leave over the next few weeks, we wanted to flag that the January Finance Network meeting will take place on 19th January 2022 from 11:00 – 12:30. Nick Wilkie, former charity chief executive, government policy adviser and visiting lecturer at The Centre for Charity Effectiveness, will present on the primary topic: Big Plans, Strategy and Business Models.

Nick will share his personal perspectives on leading and landing strategy. Sharing experience not expertise, failure more than triumph, he will reflect broadly across the subject including:

  • making sure everyone in the organisation knows where true north is;
  • knowing who the beneficiaries really are;
  • ensuring all decision-makers properly understand the balance sheet and business model;
  • why things go wrong and how they might get fixed.

This session is primarily aimed at CEOs, although FDs and trustees will be more than welcome, as ever.

Please save the date in your diaries now, as this promises to be a great session.

December Finance Network Meeting – One week to go!

There’s just one week to go until the next Finance Network Meeting on Wednesday 15th December from 11:00 – 12:30. This session will focus on “Charity Legal Structures”.

A quick reminder that the next Finance Network Meeting will take place in one week on December 15th from 11:00 – 12:30 and the key session will be “Charity Legal Structures”. The presenter will be Nick Vaughan, of Paris Smith LLP who has been a volunteer consultant with Cranfield Trust since early 2020. To book your place, and / or to subsequently receive a copy of the recording of the event and the slides, please email John.Fox@ageuk.org.uk with: your name and role title; the name of the Brand Partner you are representing; and the email address to which the follow-up material should be sent. Read on to find out all about the meeting, along with a save the date for January’s meeting.

Over the past 18 months, the Financial Governance Team have discussed charity legal structures with several local Age UKs, following a number of questions raised by partners. So, whether you are looking at changing your business model or want to sense-check that your governance structures are appropriate and fit for purpose as we move towards the next financial year, this will be a very useful session to attend.

The following topic areas will be included:
  • Use of Subsidiary Companies for non-primary purpose trading, and consideration of their use for primary purpose trading also
  • Risk considerations – the avoidance of risk to charity assets
  • Independent governance (not all the charity trustees are directors of the subsidiary, and vice versa)
  • Financing aspects – start-up funding; working capital; investment / loans (from the parent charity)
  • Shared premises / staff / facilities – cross-charging / management charges
  • Use of charity logo by subsidiary companies

To book your place, and / or to subsequently receive a copy of the recording of the event and the slides, please email John.Fox@ageuk.org.uk with: your name and role title; the name of the Brand Partner you are representing; and the email address to which the follow-up material should be sent. Read on to find out all about the meeting.

January Finance Network Meeting – Save the Date

With lots of staff set to take leave over the next few weeks, we wanted to flag that the January Finance Network meeting will take place on 19th January 2022 from 11:00 – 12:30. Nick Wilkie, former charity chief executive, government policy adviser and visiting lecturer at The Centre for Charity Effectiveness, will present on the primary topic: Big Plans, Strategy and Business Models.

Nick will share his personal perspectives on leading and landing strategy. Sharing experience not expertise, failure more than triumph, he will reflect broadly across the subject including:

  • making sure everyone in the organisation knows where true north is;
  • knowing who the beneficiaries really are;
  • ensuring all decision-makers properly understand the balance sheet and business model;
  • why things go wrong and how they might get fixed.

This session is primarily aimed at CEOs, although FDs and trustees will be more than welcome, as ever.

Please save the date in your diaries now, as this promises to be a great session.

December Finance Network Meeting – Book your place!

Book your place at the next Finance Network Meeting on December 15th from 11:00 – 12:30. This session will focus on “Charity Legal Structures”.

The next Finance Network Meeting will take place on December 15th from 11:00 – 12:30 and the key session will be “Charity Legal Structures”. The presenter will be Nick Vaughan, of Paris Smith LLP who has been a volunteer consultant with Cranfield Trust since early 2020. To book your place, and / or to subsequently receive a copy of the recording of the event and the slides, please email John.Fox@ageuk.org.uk with: your name and role title; the name of the Brand Partner you are representing; and the email address to which the follow-up material should be sent. Read on to find out all about the meeting, along with a save the date for January’s meeting.

Over the past 18 months, the Financial Governance Team have discussed charity legal structures with several local Age UKs, following a number of questions raised by partners. So, whether you are looking at changing your business model or want to sense-check that your governance structures are appropriate and fit for purpose as we move towards the next financial year, this will be a very useful session to attend.

The following topic areas will be included:

  • Use of Subsidiary Companies for non-primary purpose trading, and consideration of their use for primary purpose trading also
  • Risk considerations – the avoidance of risk to charity assets
  • Independent governance (not all the charity trustees are directors of the subsidiary, and vice versa)
  • Financing aspects – start-up funding; working capital; investment / loans (from the parent charity)
  • Shared premises / staff / facilities – cross-charging / management charges
  • Use of charity logo by subsidiary companies

To book your place, and / or to subsequently receive a copy of the recording of the event and the slides, please email John.Fox@ageuk.org.uk with: your name and role title; the name of the Brand Partner you are representing; and the email address to which the follow-up material should be sent. Read on to find out all about the meeting.

January Finance Network Meeting – Save the Date

With lots of staff set to take leave over the next few weeks, we wanted to flag that the January Finance Network meeting will take place on 19th January 2022 from 11:00 – 12:30. Nick Wilkie, former charity chief executive, government policy adviser and visiting lecturer at The Centre for Charity Effectiveness, will present on the primary topic: Big Plans, Strategy and Business Models.

Nick will share his personal perspectives on leading and landing strategy. Sharing experience not expertise, failure more than triumph, he will reflect broadly across the subject including:

  • making sure everyone in the organisation knows where true north is;
  • knowing who the beneficiaries really are;
  • ensuring all decision-makers properly understand the balance sheet and business model;
  • why things go wrong and how they might get fixed.

This session is primarily aimed at CEOs, although FDs and trustees will be more than welcome, as ever.

Please save the date in your diaries now, as this promises to be a great session.

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