New Forest

31/10/2019

Charity SORP reform

New plans have been announced that will change the way the SORP will be developed from 2020 so that it better meets the needs of the users of charity reports and accounts. This follows a comprehensive governance review of the SORP development process in recent months.

These changes include:

  • reform of the SORP Committee to ensure a stronger culture of constructive challenge, better stability and better representation by small charities and funders with an interest in the impact charities have
  • the creation of seven stakeholder groups that will work in partnership with the SORP committee to ensure that the needs of the users of charity accounts are understood and reflected when writing future versions of the SORP

If you are interested in joining a stakeholder group or applying for membership of the SORP Committee, details are included on the dedicated SORP website: www.charitysorp.org. The intention is to have representation from across the UK and Ireland to reflect the coverage of UK-Irish Generally Accepted Accounting Practice.

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Many partners & the self-employed may have spent a few days a month working from home before the current crisis, but now almost everybody is working from home. There are a few small tax breaks for this, where you can claim tax relief on work related expenditure incurred.

SELF-EMPLOYED INCOME SUPPORT GRANTS
The amount of the grant is 80% of average profits for 3 years to 5 April 2019. The grant is capped at £2,500 a month for the initial 3 month period. This scheme has been extended for 3 months from 1 June but reduced to 70%, capped to £6750.

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