New Community Accountant at CVA

CVA’s New Community Accountant has started !!

CVA has recruited a new Community Accountant - Colin Bascom. 

Colin's role is to provide practical support, advice and guidance to voluntary and community organisations in Croydon and is keen to hear from organisations on what they consider their support and development needs are in the area of financial management. 

‘Financial management’ means dealing with all areas of income and expenditure control, budgeting, cash flow management, accounting and reporting. 

Colin has devised a simple ‘Needs Assessment’ for organisations to complete which he will soon be sending out.  It should take no longer than a few minutes to complete, but will provide us with useful information about where your support and developmental needs may lie.  If you would like to take advantage of this you can download the form below, complete and email back to Colin Bascom.

Colin's contact details, including the days he works are at the foot of this page.

Finance Needs Assessment Form

  
 Resources to use when managing your finances

Accounts

Overview

 

The Charity Commission has a wide range of guidance documents which inform trustees of their duties and provide the background on how and why charity finances need to be managed in a particular way. Follow the links in the Useful Resources section on the right to find some of this guidance.
 
More detailed/practical finance support

Know How Non Profit's website has a whole section dedicated to financial management including links to other sources of information. NCVO has an extensive list of financial management resources including some downloadable templates.

 
Guidance on producing annual accounts for charities

The Charity Commission provides guidance for charities and charity advisers on preparing Annual Returns and Trustees' Annual Reports and accounts.

There are explanations of when charity accounts need to be scrutinised by an auditor and when by an independent examiner, and which accounting method is appropriate for you to use, dependent on how much your charities income. It also gives full details of the Charities SORP (Statement of Recommended Practice) and where it should be used.

 

  
 Contact Details

Colin Bascom
Community Accountant
CVA Resource Centre 82 London Road, Croydon CR0 2TB

Telephone:  020 8253 7077 - Wednesdays, Thursdays
Email: 
colin.bascom@cvalive.org.uk

 

  
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 New!! Finance courses on offer at CVA

For information on our exciting new finance training programme and also for external courses click CVA Training Page

  
 Other Resources

Gift Aid Small Donations Scheme - Like Gift Aid but not Gift Aid

The Gift Aid Small Donations Scheme (GASDS) will commence on 6 April 2013. It is still subject to further change but nothing substantial. The scheme will allow charities to claim a Gift Aid like “top up” payment on up to £5,000 of small cash donations (of £20 or less) per year from individuals without the burden of having to obtain and store Gift Aid declarations.

Sayer Vincent have a full update on their website providing information on qualifying donations, charity eligibility conditions and caps on the total value of small donations.

Restricted Funds

Tempted to dip into your restricted funds to cover budget shortfalls?  If so you need to read this article as there are certain steps you need to take. 

Useful Resouce if you need an Investment Policy


Charity Finance Group and the Charity Investors' Group have launched a support guide to help charities in writing their investment policy.  Guide to writing an Investment Policy

Easy to use Guides


Sayer Vincent has produced 'Made Simple Guides' for the Charity Finance Directors Group.  There are 19 titles available for download including recently updated VAT, Gift Aid, taking into account updates from the last budget. 

Gift Aid

HM Revenue and Customs (Charities) has updated guidance on Gift Aid declarations and provided new model declarations.  For charities designing their own declaration form, there is a new checklist of the minimum information that must be included - HMRC is aware that many declarations in use are not in accordance with the legislation. HMRC has also apologised for an error in the previous guidance which mistakenly states that records of Gift Aid declarations need only be kept for four years, rather than the necessary six.   Check  the guidance

 

Free Advice on VAT

The Direct Marketing Association in association with Zero Vat consultancy has set up a help desk to provide advice to charities. Contrary to popular belief, charities are not exempt from paying VAT on goods and services. However, HMRC has in place a number of concessions that allow for certain marketing goods and services to be ‘zero rated’ for VAT.  As this is a complex matter it is hoped that the helpdesk will help charities to slash thousands of pounds from their marketing and advertising costs by providing details on what is VAT zero rated.

VAT cost-sharing groups

This is a new VAT measure to allow charities to share services without incurring additional VAT costs. To take advantage of the VAT relief, a group of charities need to set up a cost sharing group (“CSG”). The group can then undertake services and recharge the cost to its members exempt from VAT providing various conditions are met.   Sayer Vincent have a full update on their website providing guidance on the various conditions of the cost sharing exemption and some complexities if you wish to set up a CSG in conjunction with an existing or proposed VAT group. You can also contact them if you would like to discuss this option further svinfo@sayervincent.co.uk    

  
 Shortcuts to Popular Services
Services for Groups

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Services for Partners

Services for Others

 

 CVA, CVA Resource Centre, 82 London Road, Croydon CR0 2TB.  020 8253 7060

Email:  cva@cvalive.org.uk

Registered Charity No. 1060157

Company Limited by Guarantee No 3271298

Please note:  not all of the opinion expressed via this website constitutes the policy or position of CVA. Thank you.

  
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