Working with the Third Sector for Positive Change

working with the third sector for positive change

FINANCE NETWORK E-NEWSLETTER ISSUE 9 – JANUARY 2010 Welcome to the Finance E-Newsletter, researched and produced by Cumbria CVS. This newsletter contains relevant, up to date financial information for those both operating in and working with the Third Sector. In this issue:  Compulsory Online Submission for Year End 2009/2010  VAT Returns going Online  Recruitment Subsidies and Training Grants  Free Toolkit to Calculate your VAT costs  Funding Central ______COMPLUSORY ONLINE SUBMISSION FOR YEAR END 2009/2010 Almost all employers, regardless of how many employees they have, must submit their 2009/2010 year end forms online. These are the forms that you will need to submit in April or May. If you have never submitted online before, you can prepare now by registering with HM Revenue & Customs (HMRC) for online submissions. For more information, please visit www.hmrc.gov.uk and click PAYE for employers.

VAT RETURNS GOING ONLINE HMRC are moving businesses to online completion of returns and electronic payment. This is currently optional, but becomes mandatory where the annual level of business supplies (taxable and exempt) exceed 100,000 or for all new registrations after 1 April 2010. HMRC will send all existing businesses that must submit electronic returns formal notification in February 2010. No decision has been made on extending the requirements to the remaining 0.85 million VAT registered businesses whose turnover is below 100,000. For further information visit: http://www.hmrc.gov.uk/vat/vat-online/moving.htm

RECRUITMENT SUBSIDIES AND TRAINING GRANTS

1 Jobcentre Plus is offering subsidies of £1000 for each person that an organisation recruits, who has been out of work for more than six months or more and claiming Jobseekers’ Allowance. They will pay £500 upon starting and a further £500 if the new recruit is still in your employment 26 weeks later. There is also a further £1500 available as an “in-work” training grant. Jobcentre Plus staff are also available to give advice with recruitment and will also advertise vacancies free of charge. For more details see: http://www.jobcentreplus.gov.uk/JCP/Employers/Advertisea Vacancy/recruitmentsubsidy/Dev_016239.xml.html

FREE TOOLKIT TO CALCULATE YOUR VAT COSTS From 1 January 2010, the Value Added Tax (VAT) rate has reverted back to the standard 17.5% rate. If your organisation delivers contracts you will need to keep this in mind when putting together your costings. A free toolkit has been developed to help organisations understand the liability to register for and charge VAT where appropriate when earning income. To download the free toolkit visit: http://www.fundingcentral.org.uk/page.aspx?sp=6177

FUNDING CENTRAL FUNDING CENTRAL is a free smart website for all third sector organisations, including community groups, providing access to thousands of funding and finance opportunities, plus a wealth of tools and resources supporting organisations to develop sustainable income strategies appropriate to their needs. It provides support and advice on grants, contracts and loan finance and relevant resources, toolkits, etc. For further information, visit: www.fundingcentral.org.uk

. EVENTS AND NOTICES

Full Cost Recovery Course ActiveThursday Learning 25 February Conference: 2010 The Practicalities of NewcastleBusiness Continuity Planning This beginners course on Full Cost Recovery (from ACEVO) will introduce delegates to basicThe cost Insurance allocation Institute on multiple & The projects. Chartered By Managementensuring your of organisation's Kendal Institute overheads Cumbria are appropriatelyBranch are holdingallocated a halfand dayaccounted Conference for, your on Thursdayorganisation 18 willMarch be able 2010 to at make the Grange informed decisions to become moreHotel, sustainable Grange-over-Sands and secure. To book, call 020 7280 4960 or visit: http://www.acevo.org.uk/Page.aspx?pid=1341 1.45pm Registration for 2.15pm Start, Finish 7.00pm Cost £50.00 per Delegate This important Event is designed for all Businesses, Public Sector2 and Voluntary Organisations For advance bookings & further information please contact: Lalik Nasmyth: 01229 468525 / [email protected] Surviving and Thriving: A Guide to Good Governance Saturday 27 February 2010 9.30am – 3.00pm CREA, Penrith

Good governance is at the heart of any successful group and one of the greatest needs within the voluntary and community sector. Your management committee – directors, trustees, committee members – gives purpose to your organisation and provides the forward drive needed for an efficient service and an effective future. Join us on 27 February 2010 as we explore pathways to quality during the morning sessions, to familiarise ourselves with many of todays most talked about – and funder driven – quality standards. Which, if any, are the best fit with your organisation? With six to learn about first hand, and a table brimming with extra resources, there is bound to be one worth investigating further… After a buffet lunch, settle into your seats for a classic session on the three R’s – that’s Risk, Reserves and Redundancy – a lecture from the Charity Bank and Peninsula Employment Services you’ll want to take notes on… Finally, IT4cumbria presents IT4u! – an interactive workshop designed to de-mystify all the latest media and services to support your group’s communication needs: ICT in strategic planning; networking possibilities; accessing emails when not in the office; social networking; video conferencing and more. A dazzling display in small groups so everyone can have a go! For more information, contact Alison Phillips on 01768 800350 or email: All You Want to Know about Local Authority Finance 2010 [email protected] Do you think that a working knowledge of local authority finance would put you and your To book your place, contact Jackie Boustead: on 01228 512513 or email: colleagues in a position of advantage? [email protected] The costcourse of thisis accompanied event is £30 byper a person,very useful but whybook not entitled: take advantage “All You Want of our To Buy Know One, About Get OneLocal Half Authority Price Offer!Finance 2010”. Venues and Dates Cumbria: Hallmark Hotel, Carlisle – Monday 4 May 2010 North: Novotel West Hotel, Worsley, Greater Manchester – Monday 22 November 2010

The cost of this seminar £230 +VAT and includes lunch. There is a 10% discount for members of the Institute of Public Sector3 Management. If you would like more information or would like to make a booking, please call 017683- 52165 or 52347, email [email protected] or visit: http://www.awics.co.uk/RegionalSeminars/Overview/ Subscribe If you no longer wish to receive this e- Newsletter, please email: [email protected] and you will be removed

Likewise, if you would like to subscribe to this regular mailing, please email: [email protected] Feedback We would like to hear from you regarding this E-Newsletter. Please let us have your comments/feedback. Email: [email protected] Disclaimer The information contained in this e- Newsletter is produced in good faith. Whilst every care is taken to ensure this it is correct, Cumbria CVS cannot accept liability for any omissions or inaccuracies and does not take responsibility for the quality of any services or products mentioned. Accessibility If you have difficulties accessing this e- Newsletter, please contact the Communications team on 01768 800350. Credits Information for this e-Newsletter is sourced mainly from: The Charity Commission, HM Revenue & Customs, Charity Finance and ACIE Newsletter.

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Cumbria CVS: Registered Charity No: 1119671; Co Ltd by Guarantee: 6178269. Registered address: Maryport Resource Centre, 12a Selby Terrace, Maryport, Cumbria CA15 6NF. Website: www.thirdsectorcumbria.org.uk