PIMBs Briefing – Summer 2021

As many of the restrictions are being lifted after the undoubtedly extraordinary last 18 months, it’s important to continue to reflect on the challenges faced by the sector.

Many of the challenges remain the same from governance to tax matters and in this briefing we consider all these areas.

Office re-opening, and perhaps the more challenging area of space requirements, now that flexible and agile working are high up the agenda, is leaving Boards and senior leaders with big decisions to make. Our articles on Office leases and simplification of the VAT exemption for land and property are food for thought when looking at your options and opportunities. In addition, how can your own organisation’s flexible working impact your future audits – key factors in the future of auditing are looked at in our article on moving away from remote auditing.

We again have a focus on good governance, following up from our Winter PIMBs Briefing where we considered some of the governance challenges resulting from the pandemic. Our focus in this briefing is on best practice with the updated Charity Governance Code and when you should consider reviewing your current governance arrangements.

Employment tax remains an area of focus and our article on off-payroll workers summarises the proposed changes and action points for you to consider. There have also been recent decisions by the Employment Tribunal System further highlighting the need for organisations to consider whether, under the Employment Rights Act of 1996, an individual is a worker. Our Employment Tax team will happily answer any questions you may have in these areas and have also been assisting many clients who, due to the pandemic, have found that they are now employing individuals that are based overseas.

Charities with trading subsidiaries will be considering the impact of an exceptional year on their financial position, and in our article on trading subsidiaries we focus on the importance of keeping both the tax and legal position of a charity in mind when reviewing financial position.

Lastly, we are aware of many membership bodies having received grants from the Cultural Recovery Fund and look at the reporting requirements.

My thanks to those who contributed articles and insights to this publication. Please do not hesitate to contact any of our authors with any queries.

We look forward to seeing you soon and hope that many of our Autumn events might move to face to face including the PARN Financial Benchmarking launch on 23 November.

If you have any questions or would like to discuss any of the topics raised in this edition, please feel free to get in touch.

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