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CHARITY & NOT FOR PROFIT E-NEWS14 SEPTEMBER 2017

FACEBOOK TO LAUNCH DONATE BUTTON FOR UK CHARITIES

Facebook has announced that it will launch donate buttons, which will allow users to donate directly to selected UK charities. In order to apply, organisations must be registered UK charities and have been screened by Facebook.

FUNDRAISING PREFERENCE SERVICE STATISTICS PUBLISHED

The first figures on the use of the Fundraising Preference Service (FPS) have been released, which show that to 31st August 2017, there were 3,178 individual registrations to the FPS and 7,145 suppressions reported to charities.

BUDGET DATE CONFIRMED AS 22 NOVEMBER 2017

Following the Chancellor’s announcement in the 2016 Autumn Statement, there will now be only one fiscal event each year, held in the Autumn. The Government has confirmed that the next Budget will be published on Wednesday 22 November 2017.

September 2017 | 2

IRS REVOKES US TAX EXEMPT STATUS OF UK CHARITIES

Over 200 UK charities have had their US tax exemption revoked by the Internal Revenue Service (IRS), without the IRS contacting them to make them aware of that fact. The Charity Tax Group have published more information, along with details on how to see if your charity is affected.

CHARITY COMMISSION ANNUAL RETURN 2017 PUBLISHED The Charity Commission has published the 2017 annual return. They have also launched a consultation on the 2018 return, hoping to make it more dynamic, better targeted and easier to use for charities. The consultation is open until 24 November 2017.

APPRENTICESHIP LEVY: HOW TO REGISTER AS A TRAINING PROVIDER The Education and Skills Funding Agency has issued guidance on how to regis-ter and use the apprenticeship service as a training provider. The guidance in-cludes how to set up an apprenticeship training provider account, manage and approve details of apprentices, and how to manage payments using the Indi-vidualised Learner Record (ILR) returns.

ACCOUNTS MONITORING REVIEW: CONCERNS HIGHLIGHTED BY AUDITORS IN THEIR AUDIT REPORTS

The Charity Commission has recently focussed attention on those accounts it receives with “modified” audit reports. In the year ended 31 December 2016 it identified 97 such sets of accounts, in which auditors highlighted concerns over going concern, non-compliance with the SORP or lack of accounting records.

There is a clear expectation from the Commission that Trustees are expected to address the issues raised by auditors. Since May 2017 the Commission requires auditors to report any modifications to them directly which may lead to earlier intervention from the Commission.

UPDATED GUIDANCE ON INDEPENDENT EXAMINATIONS

The Charity Commission have issued updated guidance for independent ex-aminations of charity accounts. There are three new directions which must be followed by examiners, relating to conflicts of interest, related party transactions and the financial circumstances of the charity.

September 2017 | 3

VAT ADDED TO EBAY SELLER FEES

From 1st August 2017, eBay sellers living in the UK contract with eBay (UK) Limited rather than eBay Europe Sarl. This change means that UK sellers regis-tered as business sellers are now charged VAT on sales fees at the standard rate of 20%. Charities with eBay shops may find this extra charge on recent sales.

AUDIT THRESHOLD FOR CO-OPERATIVES MAY INCREASE

The size thresholds, above which co-operative and community benefit societies need to appoint an auditor, are under review. The consultation, which runs until 22 September 2017, proposes aligning the audit threshold with that for small companies, namely meeting two out of the three following criteria: no more than 50 employees; turn-over less than £10.2 million; and total assets less than £5.1 million. A resolution will need to be passed to take ad-vantage of audit exemption and the Financial Conduct Authority will retain a right to stop societies disapplying the audit requirement.

REPORT ON CYBER-SECURITY IN CHARITIES

The Government has carried out research with UK registered charities to explore their awareness, attitudes and experiences around cyber security. The report summarising their findings and concludes that, although charities are not fundamentally different from businesses in how they view and approach cyber security, they do face some unique constraints and challenges.

UPCOMING EVENTS

Charity Update Autumn 2017 – 12 October 2017haysmacintyre’s biannual update for charities and not for profit organisations, covering financial, compliance, governance and other topical issues. Please note this event is now full, however please click on the link to register your interest and be added to the waiting list.

Trustee Training - multiple dates, November 2017 – March 2018haysmacintyre, Farrer & Co and Cazenove Charities are hosting a comprehensive programme of training sessions for both new and experienced trustees.

Trustee training with Hempsons - multiple dates, September 2017 – October 2017Hempsons Trustee Training featuring Richard Weaver, Head of Not for Profit at haysmacintyre.

PARN Benchmarking Launch - 11 October 2017haysmacintyre will be hosting the launch event for the PARN Financial Benchmarking Report, including presentations from PARN CEO Andy Friedman and Jeremy Beard, Partner & Head of PIMBs at haysmacintyre.

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ABOUT HAYSMACINTYREWe are a leading mid-tier firm of Chartered Accountants and tax advisers in central London, providing advice to entrepreneurs, fastgrowing and owner-managed businesses, charities and not for profit organisations across the UK and internationally.

As a mid-tier firm we’re large enough to provide a wide range of services, yet small enough to offer a personal, responsive approach.

As a founding member of MSI Global Alliance, one of the largest and most respected associations of independ-ent legal and accounting firms, we are ideally placed to advise you on international matters.

© Copyright 2017 haysmacintyre. All rights reserved.haysmacintyre is registered to carry on audit work and regulated for a range of investment business by the Insitute of Chartered Accountants in England and Wales.

A list of partners’ names is available for inspection at 26 Red Lion Square, London WC1R 4AG.

Disclaimer: This datasheet has been produced by the partners of haysmacintyre and is for private circulation only. Whilst every care has been taken in preparation of this document, it may contain errors for which we cannot be held responsible. In the case of a specific problem, it is recommended that professional advice be sought. The material contained in this datasheet may not be reproduced in whole or in part by any means, without prior permission from haysmacintyre.

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