Financial sustainability is always a key driver for charities, but particularly in a time of crisis. The charity sector has experienced many of the same pressures as everyone else during the Covid-19 pandemic but it also faces some challenges, which are unique to the sector. These include the impact on sources of funding including fundraising events, increasing demand for services and the need to think creatively to continue to deliver to beneficiaries.

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The last few days have, yet again, seen significant turmoil for businesses with the onset of another national lockdown forcing many businesses to close entirely for another month and many businesses having to adapt, again, to running their business remotely.

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Understanding and accurately reporting your charity reserves is an important way of helping your charity remain resilient.

In what has been a very difficult year for the charity sector, this is more important than ever.

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Cycling to work is being encouraged more than ever, as not only is it better for the environment but it is an alternative to public transport. But what if you don’t have a bike or your bike is past it and you can’t afford a new one? The Cycle to Work Scheme could be just right for you and your employees to help mitigate the cost for all.

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 (Image taken before social-distancing measures)

Congratulations to Cate Davey on being promoted to the position of Corporate Finance Executive. Based in Exeter, Cate joined the firm as a new graduate in 2017 and recently qualified as a chartered accountant. Her promotion is part of the growth of our Corporate Finance team.

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We are delighted to have been named as one of the UK’s top accountancy firms. In the prestigious Accountancy Age Top 50+50 Firms 2020, Thomas Westcott is ranked 49th out of the leading 100 accountancy practices. 

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Being forced to take time away from running your business, other than for a holiday, can be stressful, especially when the absence relates to dealing with an illness, needing surgery or recovering from a serious accident.

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A remote audit may be a safer and easier option for your business during the Covid-19 pandemic. The Government has issued guidance on remote or virtual auditing to help businesses remain compliant and Thomas Westcott is happy to offer a remote audit. 

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Last year, in an article called Company van tax: when is a van not a van?, I explained that in a recent tax case both the First Tier and Upper Tier Tribunals had found in favour of HMRC when concluding that a VW Kombi van was a car and not a commercial vehicle. At that time, a Vauxhall Vivaro van was still classified as being commercial.

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National Savings & Investments, the deposit institution backed by HM Treasury, has announced that it is cutting the interest rates on some of its more popular products. 

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