Charitable Giving

If you are thinking of making a gift to charity, this factsheet summarises how to make tax-effective gifts. You can get tax relief on gifts to UK charities if you give:

  • under Gift Aid
  • through a Payroll Giving scheme, run by your employer, or
  • by making a gift of certain shares or land.
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Charities in Scotland: 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. However, becoming a trustee involves a certain commitment and level of responsibility which should not be underestimated.

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Charities: 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. However, becoming a trustee involves a certain commitment and level of responsibility which should not be underestimated.

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How To Do A Cash Flow Forecast

How To Do A Cash Flow Forecast

How To Do A Cash Flow Forecast

Keeping the company finances in good health is one of the hardest challenges facing any business owner, and cash flow management is undoubtedly an integral feature. After all, money tied up in assets or future transactions counts for very little if it isn’t supported by having the cold hard cash to get through the foreseeable future.

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Community Amateur Sports Clubs

Local amateur sports clubs may wish to register with HMRC as Community Amateur Sports Clubs (CASCs) and benefit from a range of tax reliefs including Gift Aid. This factsheet considers the tax benefits and the registration requirements that clubs have to satisfy.

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Companies – Tax Saving Opportunities

Due to the ever changing tax legislation and commercial factors affecting your company, it is advisable to carry out an annual review of your company’s tax position.

Pre-year end tax planning is important as the current year’s results can normally be predicted with some accuracy and time still exists to carry out any appropriate action.

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Company Secretarial Duties

Company legislation provides an opportunity for a business organisation to benefit from the protection of limited liability, separating the legal persona of the organisation from the individuals who own and run it.

In return for this protection a certain amount of information about a company must be publicly available including, for example, the company’s annual accounts, registered office address and details of directors, company secretary (if there is one) and members.

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Construction Industry Scheme

The Construction Industry Scheme (CIS) sets out special rules for tax and national insurance (NI) for those working in the construction industry. Businesses in the construction industry are known as ‘contractors’ and ‘subcontractors’. They may be companies, partnerships or self employed individuals.

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Corporation Tax – Quarterly Instalment Payments

Under corporation tax self assessment large companies are required to pay their corporation tax in four quarterly instalment payments. These payments are based on the company’s estimate of its current year tax liability.

Note that the overwhelming majority of companies are not within the quarterly payment regime and pay their corporation tax nine months and one day after the end of their accounting period.

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Corporation Tax Self Assessment

Key features

The key features are:

  • a company is required to pay the tax due in advance of filing a tax return
  • a ‘process now, check later’ enquiry regime when the tax return is submitted
  • the inclusion in the tax return, and in a single self assessment, of the liabilities of close companies on loans and advances to shareholders and others, and of liabilities under Controlled Foreign Companies legislation
  • the requirement for companies to self assess by reference to transfer pricing legislation.
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