Knowledge Hub

Here, CFG's Policy Officer, Isaac Bristol, looks at some policy wins, important conversations between the sector and Government, and further ahead to the potentially paradigmatic May elections.

Following the new VAT rules which have recently come into effect regarding donated goods, another positive policy exemption for charities has now been introduced.

UK charities are generally exempt from reporting obligations under the US Foreign Account Tax Compliance Act, thanks to their Deemed-Compliant Financial Institution status under the UK–US Intergovernmental Agreement. However, charities operating internationally should plan ahead, as foreign banks may be unfamiliar with UK charitable status and could apply withholding to US-sourced payments.

UHY's Sean Glancy and Lisa Burnside explain why the complexity of VAT deserves trustee attention and not some common VAT pitfalls that arise. They then highlight some practical examples which provide actionable strategies that trustees and finance teams can use to embed good governance and VAT compliance culture within their teams.

At a time when charities and businesses are under intense pressure, it is easy to lose sight of tangible wins amid mounting challenges. However, a rare and genuinely mutually beneficial policy reform is now on the horizon! 

For many charity leaders, VAT is something that happens in the background; a complex administrative requirement we assume is handled correctly until, suddenly, it isn't.

We recently spoke to the new chair of CFG's Arts and Museums Special Interest Group (ARTSIG), Margaret Anderson, Chief Finance Officer at Inspire. Margaret shared her journey from music student to CFO, her passion for the arts sector, and her vision for building ARTSIG into a thriving community where finance professionals can share knowledge, tackle sector-specific challenges, and support one another.

CFG's policy experts, Richard Sagar and Isaac Bristol, pore over all the relevant announcements and changes so you don't have to.

A CFG survey conducted one year on from the announcement of a rise in Employer National Insurance Contributions finds that many charities are struggling with their finances.

CFG partner and tax expert Mo Suleman takes a look at why many museums and galleries aren't taking advantage of the Museums and Galleries Exhibition Tax Relief, and urges more charities to claim what's theirs.

CFG is undertaking a short survey to understand how charities currently use salary sacrifice arrangements, particularly for pension contributions.

VAT is one of the most complex tax issues affecting the charity and not-for-profit sector and navigating its rules can be challenging. In this article, UHY’s Sean Glancy addresses some of the most frequently asked VAT questions they receive.