We’ve tried to avoid jargon in KeyStone but there are ...
| |Statement |Use this space to record any actions |We do |We can |Complete |
| | |you need to take and/or the locations|it |prove it |(initialled and|
| | |of your evidence | | |dated by |
| | | | | |assessor) |
| | | | | | |
|3.1 |Your annual accounts are presented in a clear | | | | |
| |and understandable way and meet your | | | | |
| |constitutional, legal and funders’ | | | | |
| |requirements. | | | | |
| | | | | | |
| |Examples of evidence include: | | | | |
| | | | | | |
| |Annual accounts | | | | |
| | | | | | |
| |Governing document | | | | |
| | | | | | |
| |Funders’ conditions | | | | |
|3.2 |If you are neither a charity or company your | | | | |
| |accounts are approved and presented to members| | | | |
| |in accordance with your governing document. | | | | |
| | | | | | |
| |Examples of evidence include: | | | | |
| | | | | | |
| |Copies of annual accounts | | | | |
| | | | | | |
| |Minutes of meetings | | | | |
| |As a charity your accounts are approved by | | | | |
| |trustees before filing your accounts with OSCR| | | | |
| |in good time. | | | | |
| | | | | | |
| |Examples of evidence include: | | | | |
| | | | | | |
| |Copies of annual accounts | | | | |
| | | | | | |
| |Minutes of meetings | | | | |
| | | | | | |
| |Entry on OSCR website | | | | |
| |As a company your accounts are approved by | | | | |
| |trustees before filing with Companies House in| | | | |
| |good time. | | | | |
| | | | | | |
| |Examples of evidence include: | | | | |
| | | | | | |
| |Copies of annual accounts | | | | |
| | | | | | |
| |Minutes of meetings | | | | |
| | | | | | |
| |Entry on Companies House website | | | | |
|3.3 |You meet all legal requirements regarding | | | | |
| |fund-raising for events such as raffles and | | | | |
| |street collections. | | | | |
| | | | | | |
| |Example of evidence includes: | | | | |
| | | | | | |
| |Raffle license | | | | |
|3.4 |You meet the requirements of HM Revenue and | | | | |
| |Customs and make the most of tax concessions. | | | | |
| | | | | | |
| |Examples of evidence include: | | | | |
| | | | | | |
| |Tax returns | | | | |
| | | | | | |
| |PAYE statements | | | | |
| | | | | | |
| |VAT returns | | | | |
| | | | | | |
| |Gift Aid returns | | | | |
|3.5 |You meet any requirements of funders for | | | | |
| |claiming, spending and reporting on money | | | | |
| |received. | | | | |
| | | | | | |
| |Examples of evidence include: | | | | |
| | | | | | |
| |Applications for funding | | | | |
| | | | | | |
| |Funding (grant) claim forms | | | | |
| | | | | | |
| |Records of spend in relation to funding | | | | |
| |(grants) | | | | |
| | | | | | |
| |Copies of terms and conditions from funders | | | | |
| | | | | | |
| | | | | | |
| | | | | | |
| | | | | | |
|3.6 |You keep up to date financial records and pay | | | | |
| |bills and issue invoices on time. | | | | |
| | | | | | |
| |Examples of evidence include: | | | | |
| | | | | | |
| |Accounts book/spreadsheet | | | | |
| | | | | | |
| |Records of invoices and payments | | | | |
| | | | | | |
| |Regular bank | | | | |
| |reconciliations | | | | |
|3.7 |Your management meetings review the financial | | | | |
| |situation at least quarterly. | | | | |
| | | | | | |
| |Examples of evidence include: | | | | |
| | | | | | |
| |Minutes of meeting | | | | |
| | | | | | |
| |Current balance sheet | | | | |
| | | | | | |
| |Treasurer’s report | | | | |
|3.8 |You make sure you make the most of available | | | | |
| |reliefs and concessions | | | | |
| | | | | | |
| |Examples of evidence include: | | | | |
| |Water rates exemption | | | | |
| |Business rates exemption | | | | |
| |Free waste disposal | | | | |
Section complete (
Signed
Date
| |Things to think about |Where to get help |
|3.1 |Your annual accounts are presented in a clear and understandable way and meet your constitutional, legal and funders’|
| |requirements. |
| |For charities: your accounts need to be prepared and |OSCR accounting regulations |
| |scrutinised in accordance with OSCR regulation. |
| | |ng/ |
| | | |
| | |Your local Third Sector Interface or Council for Voluntary |
| | |Service can give you help and information on producing |
| | |charity accounts |
| | |
| | |ontact-details/ |
| | | |
| | |SCVO – Financial and business management |
| | |.uk/running-your-organisation/finance-business-|
| | |management/ |
| |For Companies Ltd by Guarantee: your accounts need to be |Companies House – Accounts guidance |
| |prepared and scrutinised in accordance with company | |
| |regulation. | |
| |For Voluntary Associations (that are not charities): |OSCR receipts and payments guidance |
| |There is no regulator for your accounts and you are only | |
| |answerable to your members. You’ll need to provide |
| |accounts in line with your constitution. The OSCR |ity-accounting/receipts-and-payments-accounts |
| |guidance for receipts and payments accounts may be a good| |
| |model to use as it’s familiar to funders. | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
|3.2 |Your accounts are approved by trustees before filing with Companies House or OSCR, or in accordance with your |
| |governing document. |
| |There is no need to lay accounts before an AGM for |Companies House – Accounts guidance |
| |approval before sending to OSCR or Companies House unless| |
| |your governing document specifically requires it. But if | |
| |you are a company you must send members a copy before | |
| |they are due to be filed with the registrar of companies.| |
| | | |
| | | |
| |It is normal to consider the accounts at the AGM and make| |
| |them easily available to members. | |
| |Things to think about |Where to get help |
|3.3 |You meet all legal requirements regarding fund-raising for events such as raffles and street collections |
| |It’s important that your fundraising is accountable |Scottish Fundraising Standards Panel – Codes of fundraising |
| |and transparent. The Codes of Fundraising Practice |practice |
| |will help keep you legal. | |
| | | |
| |If you are holding a raffle with pre-printed tickets|Institute of Fundraising - Raffles and lotteries |
| |sold before the draw you’ll normally need to have a |
| |small lottery licence from your local council. |-disciplines/auctions-raffles-lotteries-and-gamification/raffles|
| | |-and-lotteries/ |
|3.4 |You meet the requirements of HM Revenue and Customs and make the most of tax concessions |
| |Income tax and national insurance |SCVO – Tax and VAT |
| |It is the employer’s duty to deduct income tax from |
| |the pay of employees whether or not directed to do |anagement/tax-vat/ |
| |so by the tax office. Take care to check the tax | |
| |status of all people working in the hall regardless |SCVO - Payroll services |
| |of how much or little they are paid. If you are in | |
| |any doubt whether income tax is payable or not | |
| |contact your tax office. National Insurance |Your local Third Sector Interface or Council for Voluntary |
| |contributions are related to employee’s earnings and|Service may have a payroll service. |
| |are collected along with income tax under the PAYE |
| |procedures. |t-details/ |
| |Crosscheck Section 2:1 | |
| | |Cash-online - Payroll |
| | |cash-.uk/content/1/25/ |
| | | |
| | |Business Gateway – Pay: your obligations as an employer |
| | |
| | |ployer |
| |If you are a charity, using Gift Aid means that for |HMRC - Gift Aid |
| |every pound that’s given to you in donations (not | |
| |hire charges) you’ll get an extra amount from the | |
| |HMRC. |Institute of Fundraising - Gift Aid |
| | |
| | |ndraising/tax-effective-giving-and-vat/gift-aid/ |
| |Corporation and Capital gains tax |SCVO – Tax and VAT |
| |Limited companies and unincorporated organisations |
| |are liable for Corporation Tax on their profits. |anagement/tax-vat |
| |This includes all charities, with the exception of | |
| |charitable trusts, which are liable for Income Tax. | |
| |However, there are a number of tax exemptions |DIY Committee Guide - Charities, Tax and Trading |
| |available to charities which mean that they usually |article/charities-trading-tax-subsidia|
| |do not pay Corporation Tax. |ries |
| |Charitable status allows for exemption from payment | |
| |of capital gains tax. Voluntary organisations | |
| |without charitable status are not exempt from | |
| |capital gains tax. | |
|3.4 |You meet the requirements of HM Revenue and Customs and make the most of tax concessions |
| |VAT |SCVO - Tax and VAT |
| |VAT is a complicated area. Most village halls won’t |
| |be registered for VAT unless their income meets the |anagement/tax-vat |
| |threshold. Charities are eligible for some special | |
| |concessions which enable them to buy goods at zero |HMRC – Charities and tax |
| |or lower rates, including disabled access and fuel. | |
| | | |
| |As all VAT regulations are subject to regular | |
| |updating and change it is vital for voluntary | |
| |organisations to constantly review their VAT | |
| |position, possibly with the help of their | |
| |professional advisers. | |
|3.5 |You meet any requirements of funders for claiming, spending and reporting on money received |
| |It is important that you meet the terms of any grant|SCVO – Charity accounts and financial reporting |
| |fund that receive and record the income and |
| |expenditure properly and enter as restricted funds |anagement/charity-accounts-financial-reporting/ |
| |if required | |
| | |OSCR – Charity accounting |
| | | |
|3.6 |You keep up to date financial records and pay bills and issue invoices on time |
| |It’s important to keep on top of financial |Cash-online provides information on basic financial skills |
| |transactions and record keeping, pay bills and issue|needed to run successful charities and voluntary organisations |
| |invoices on time. You’ll need this information so | |
| |that you can give accurate report to the committee. | |
| | |SCVO – Financial and business management |
| | |
| | |anagement/ |
|3.7 |Your management meetings review the financial situation at least quarterly |
| |Good management of your hall means that your |SCVO – Charity accounts and financial reporting |
| |committee need up to date, regular and accurate |
| |reports on your financial situation |anagement/charity-accounts-financial-reporting |
|3.8 |You make sure you make the most of available reliefs and concessions |
| |The Scottish Government has an exemption scheme to |SCVO – Water and Sewerage Exemption Scheme |
| |help charities and Community Amateur Sports Clubs |
| |(CASCs) with the cost of their water and waste water|anagement/water-sewerage-exemption-scheme |
| |bills. The scheme is administered by the water | |
| |industry on behalf of the Scottish Government. You | |
| |need to apply each year. | |
| | | |
| |Business premises occupied by a registered charity |SCVO – Tax & VAT |
| |or registered community amateur sports club and used|
| |wholly and mainly for charitable purposes (e.g. an |anagement/tax-vat |
| |office, workshop or community building) can apply to| |
| |the local authority for relief from the unified | |
| |business rate. Charities qualify for mandatory | |
| |business rates relief of 80%. The remaining 20% may | |
| |be (and often is) granted by the local authority; so| |
| |it is possible for a charity to attain 100% relief | |
| |from rates. | |
| | | |
| |Organisations in receipt of rates relief will also | |
| |often get waste collection fees waived. Contact your| |
| |local authority. | |
-----------------------
[pic]
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.