Support and guidance for the charity sector during the coronavirus pandemic

25th March 2020

The charity sector will face unique challenges when navigating through general financing implications and the tax system during the COVID -19 pandemic and will need to use tax reliefs when cash flow is under pressure.  
 
HB&O will stay on top of updates and advise as developments arise. As well as the general support highlighted in our previous support article, here’s what we know so far:
 
Tax and finance guidance and measures 
 
  • General Guidance – the Charity Commission has published specific general guidance on coronavirus, and the OSCR has produced guidance for charities in Scotland
  • Guidance from GOV.UK upon financial resilience and ustilisng charity reserves 
  • Annual return filing delay – The Charity Commission has published guidance for charities on obtaining extensions to their annual filing deadline, should it be required
  • Companies House filings – from Wednesday 25 March 2020 businesses are now able to apply for a 3-month extension for filing their accounts under an initiative from the government and Companies House
  • Charity SORP - Due to the current circumstances, Charities SORP Committee has issued advice on the financial reporting implications that may arise from the measures being put in place to contain the impact of the COVID-19 virus
  • Post from HMRC - HMRC has reminded charities that there are some documents that they are required by law to send to the taxpayer in hard copy. It’s important to seek the latest advice on this matter, please contact the HB&O team should you have queries 
  • Procurement Policy Note 02/20 – Supplier relief. This PPN note offers guidance for public bodies on payment of suppliers to ensure service continuity during and after the current coronavirus outbreak
  • The Institute of Fundraising, NCVO and Charity Finance Group recently surveyed a selection of UK charities regarding the potential coronavirus implications, and the Financial Impact Report will be available shortly
  • Fundraising – The Institute of Fundraising and THINK advise on how to approach fundraising activities in the current climate of the coronavirus outbreak
  • Protecting against fraud and scams - Emails claiming to be from HMRC offering tax rebates as a result of coronavirus are sadly now circulating. Visit our blog on HMRC scams to find out more about detecting the signs.  
 
We will continue to post updates as we receive them. If you would like charity specific advice for navigating through the impacts of the coronavirus, please contact us at info@hboltd.co.uk or call 01926 422 292.