Stephen Hirst has returned to retirement, having made an invaluable contribution to TSA. Here, Stephen offers a few parting thoughts: THIRD SECTOR ACCOUNTANCY- a super bunch of people, providing professional services for community organisations, and what a fantastic group of people to work with! This makes it very difficult to leave, but sadly that is what I am doing. It …
Supporting good causes
We have decided to copy our client Unicorn Grocery and donate a percentage of our total wage bill to good causes. This year we decided to allocate 2% which came out at £4,000; colleagues voted to share this between the following: Barnabus – helping the homeless and street sleepers in Manchester Coffee4Craig – direct assistance for street sleepers in Manchester …
Great news for societies registered with the FCA!
From next month, the annual registry fees will be abolished for the vast majority of co-operative societies and community benefit societies – the only exception being those that are providing authorised financial services. So if your organisation is a society then you will no longer need to pay that annoying annual FCA fee which is so much higher than the …
If you are a director you may not need to do a tax return any more
HMRC has always insisted that all company directors should do tax returns, even if they only had income under PAYE. This is relevant to many co-operatives, particularly those that are companies limited by guarantee. Often, all members are directors and only receive money from the company under PAYE. The good news is, the Revenue have finally realised (after losing several …
Making Tax Digital for VAT
What does it mean? Making Tax Digital (MTD) will mean that you cannot log on to HMRC’s website and file the VAT return. You have to file the VAT return directly from your accounting software. The accounting software must contain all your transactions in digital form, or must be digitally linked to other software that contains all your transactions. When …