Thursday 15 July 2010

Welcome to the first WYCAS e-bulletin!

This ebulletin aims to keep you up to date with key changes which will impact on your organisation’s finances and provide information on relevant events and resources. We plan to produce it on a regular basis. Please feel free to forward to other members of your organisation; and if you know of anyone else who would like to sign up they can do so on our website www.wycas.org.uk. And as always we are happy to hear your comments

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Budget update - Chancellor's Budget 22 June

The key points for the charity and social enterprise sector are:
• VAT rate increases to 20% from 4 January 2011
• Gift aid – continuing to explore ways to improve the system
• Substantial donors – plans to replace the current rules in the autumn
• National insurance – although employers’ contributions are still going to increase by 1% from April 2011, the threshold or starting point is increasing by an additional £21
• Employer’s NI – help for new small businesses in certain areas by reducing the employer’s contribution for the first 12 months
• Corporation tax – small company rate reducing from 21% to 20% from April 2011

The increase in the VAT rate is probably the one that will have the most impact in our sector making it even more important to plan for VAT– maximising zero rates and recovery where possible.

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NJC salary scales 2010-11

Many of us in the VCS use the NJC scales for deciding salaries. Here is the latest information. The Local Government Employers have informed the Trade Unions that they are unable to offer any increase in pay for 2010-11. This is in response to the Unions's claim, submitted in October, for an increase of 2.5% or £500 a year (whichever is greater) with effect from 1 April 2010.

Organisations should continue to use the 2009-10 rates, but allow for a potential increase within budgets for the year. Once the salary scales have been confirmed for 2010-11, any increase should be backdated and paid to employees.

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Events

Charity Accountants Conference 2010 - Fit for the Future
23-24 September - Bristol

Leeds Funding Fair and Information Event
23 July 2010 - 930 230

Shipley Funding Fair - Bradford
14 July 11am to 5.30pm

Kirklees Funding Roadshows 2010
8 July Huddersfield Town Hall 1pm - 8.30pm
19 July Cleckheaton Town Hall 1pm - 8.30pm

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Resources

Managing in a Downturn: Staying Solvent and Surviving Well
by Kate Sayer, I Oakley-Smith, S Lloyd, M Bennett £18.95 Published by DSC
Description
This guide will be essential reading for anyone involved in running a charity that’s feeling the pinch. It contains practical guidance on action to take to manage your finances well during an economic downturn. It also provides information about the legal position, how to spot the early warning signs of trouble as well as practical tips on how to steer a course through troubled waters.

• Look Inside - Managing in a Downturn

New or revised guidance from the Charity Commission
A number of useful and free Charity Commission guidance publications relevant to financial management have been written or revised recently as follows:
Charities and Risk Management
Charities and Reserves
Managing Financial Difficulties
Internal Financial Controls plus Checklist

They are all available on the Charity Commission website www.charity-commission.gov.uk
or by ringing 0845 300 0218
 

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