PIMBs Briefing – Winter 2024

It is a great honour to welcome ourselves as the new editors of the PIMBs briefing. I, Stephen Patey, Senior Manager, and Jamie Whale, Senior Manager will be leading and contributing to our biannual briefings which we hope you find are filled with relevant and thought-provoking articles for the sector. One thing we can all agree on, is that change is a constant. With the current ongoing Israel-Gaza conflict and the cost of living crisis, there are many areas of concern for the industry to consider.

To begin, I share some thoughts around VAT, looking at the ongoing hot topic of Business v Non Business activities. This is currently something that is receiving a lot of attention and challenge from HMRC. I look at the complexities involved and what it might mean for your organisation, and things you can do to address this.

Our first guest author, Max King, Head of Epoch Consulting, gives us an insight into considering whether your investment policy is fit for purpose. It is frequently noted that many organisations have outdated policies, and Max shares a number of objectives for organisations to take into account when reevaluating and refreshing theirs.

My co-editor, Jamie, goes into detail on relieving the increased Corporation Tax burden. Due to the recent increases, this highlights the importance of organisations making use of the tax reliefs available across capital allowances and research and development relief and how we can help you with this process.

On the back of the seemingly long running discussion within professional membership bodies on board composition and governance, our second guest author, David Sneesby, CEO, The LSL Group, discusses the crucial shift from all-elected to blended boards. He goes on to review what the shift has been, and what has now become the new normal.

Finally, Nick Bustin, Employment Tax Director, draws our attention to the latest campaign from HMRC regarding employment status alert. The recent change will now mean that PIMBs organisations will be included as part of their target audience. Nick provides a helpful insight into what this means for your organisation going forward, what HMRC are looking for, and how we can help with a proposed response.

We hope you enjoy this edition and find these articles of interest. Do feel free to let the articles’ authors, me, Jamie, or your regular contact know if you have any questions concerning the matters discussed. I would welcome any feedback on this Professional Institutes and Membership Bodies Briefing and, in particular, any topics you would like us to consider for future editions.

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