All posts by Chris Yeates

How effective is finance reporting to your charity board?

Chris Yeates

With MHA, we have created Keeping Your Charity on the Right Track, a 12 month programme to help you improve your organisational governance in a stepped and measured way.  Each month’s article covers an area of charity governance for review and leads you through good practice.

Often as board members rotate, the new trustees simply accept what has gone before and receive the same financial reports without question.

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Academies Financial Handbook 2016 – key changes

Chris Yeates

The Education Funding Agency (EFA) has released the Academies Financial Handbook 2016, which is effective from 1 September 2016.

We consider the Handbook essential reading for trustees, members, accounting officers and chief finance officers/school business managers. Must-reads are Annex B: Schedule of freedoms and delegations and Annex C: Schedules of requirements.

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Small company thresholds are rising

Chris Yeates

The Government’s response to its consultation on the UK implementation on the EU Accounting Directive has been released, and although legislation, expected by April 2015, will be required to implement the changes, gives a clear indication of what the significant changes will be. The new rules will apply to accounting periods commencing on or after 1 January 2016.

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Revolutionary changes to UK accounting standards – goodbye FRSSE, hello FRS 105 and FRS 102 for small companies

Chris Yeates

UK financial reporting is certainly experiencing exciting times! Hot on the heels of the Government’s announcement on how it will implement the EU Accounting Directive (main impact being a big increase in the small company thresholds) the Financial Reporting Council, the body responsible for setting accounting standards, has launched a consultation on its planned changes to accounting standards.

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Charity Tax Reform – a blunderbuss when a sniper is needed?

Chris Yeates

Following isolated but significant cases of tax abuse involving charities, the Government is under pressure to prevent this happening again and their solution is to reinforce the definition of a charity for tax avoidance purposes. An HMRC consultation proposes tightening the definition so that a charity cannot receive tax reliefs if it has been established “to secure a tax advantage”.

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