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haysmacintyre's PIMBs Briefing - Winter 2020

23rd January 2020

It has been a tumultuous year both politically and economically, and it doesn’t seem like 2020 will bring any more stability. In this issue of the PIMBs Briefing, we will be examining the past year through recent financial benchmarking, as well as exploring challenges faced by the sector for the year ahead and potential opportunities to overcome them. 

One such opportunity we’ve identified is an emerging trend where more and more PIMBs organisations are considering, or already pursing, opportunities available from the international markets. When making the decision to expand abroad, it’s vital to also consider and manage the risks involved. Rakesh Vaitha provides some insight into why so many are looking across the channel, and how you can best protect your organisation from pitfalls. 

We are delighted to have as guest author Robert Pitts from the Professional Associations Research Network (PARN). Through the lens of the PARN annual benchmarking report, Robert looks at reserves held within the sector, and how benchmarking data can assist with balancing the need to reassure members without hoarding funds.

After years of austerity, and more recently years of political and economic uncertainty, many organisations are challenged with ensuring strong financial management on a tight budget. Wesley Parker explores the potential benefits and pitfalls in outsourcing your accounting function. 

In the gig economy where organisations of all shapes and sizes are working with freelancers, contractors, or consultants, it’s vital to know how to classify and treat these engagements with HMRC. Nick Bustin looks at off payroll arrangements, the new regulations you need to know, and how to insulate your organisation from a penalty.
If you produce digital publications for members or stakeholders, Phil Salmon’s article on the recent Upper Tribunal decision could impact the way you apportion subscriptions or consider your publication strategy. 

We again finish off with a selection of emerging issues that impact the wider sector.

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 using the contact details adjacent.

 

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