Rushtons Chartered Accountants and Business Advisers

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Protecting Charities: New Guidance on Fraud and Cyber Crime With Charity Fraud Awareness Week recently behind us, the Charity Commission has released updated guidance aimed at helping trustees safeguard their organisations against fraud and cyber crime. This follows the startling revelation that 603 fraud cases and 99 cyber crime cases were opened by the regulator in the past year alone. The new resources focus on practical, actionable steps to mitigate risks, including advice on preventing phishing attacks, improving internal financial controls, and fostering an organisational culture of awareness. Simplifying previous guidance, this update was developed in collaboration with the National Cyber Security Centre to ensure relevance and accessibility for charities of all sizes. Highlights include: 📌 Fraud Guidance: Practical measures for prevention and response. 📌 Cyber Crime Guidance: Insights into common threats and mitigation strategies. The guidance also emphasises the importance of reporting fraud to ensure accurate sector-wide data and to receive the necessary support. At Rushtons, we’re committed to supporting charities in navigating these challenges. If you have any questions or need advice regarding your charity’s financial matters, please get in touch—we’re here to help. 🔗 Read our latest blog for a more detailed overview, linked in the Comments section.

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All you need to know about corporate #tax planning https://lnkd.in/dBARGKB

📢 Supporting High-Street Businesses: Business Rates Reforms Explained The government has introduced significant legislation to reform business rates, taking effect in the 2026/27 tax year. Designed to create a fairer system, these changes are set to provide tangible benefits to smaller retail, hospitality, and leisure (RHL) businesses while shifting the burden to higher-value properties. Key highlights: ▪️ Relief for Smaller Businesses: Properties in the RHL sectors with values below £500,000 will benefit from permanently lower business rates multipliers. This adjustment aims to offer stability and support growth for high-street businesses already under pressure. ▪️ Higher Costs for Larger Properties: Properties valued above £500,000 will see higher rates, as the government seeks to sustainably fund relief for smaller businesses. Preparation is essential. Businesses should review their property valuations, ensure accurate assessments, and plan ahead for potential rate increases. Clarity on qualifying criteria and rates will follow by Autumn 2025. For further details, and all our latest posts, please visit our blog: https://lnkd.in/eZCXiSfh #BusinessRates #RetailSupport #Legislation #TaxPlanning

Mind the #GAAP - All you need to know about small company #accounting #SME https://lnkd.in/dT3yfmy

Our ethos is to take time to get to know our clients and their finances before offering tailored advice https://lnkd.in/ghrZZBm

HMRC Announces Reduction in Late Payment Interest Rates With the recent adjustment in the Bank of England's base rate from 5% to 4.75%, HM Revenue and Customs (HMRC) has announced corresponding reductions in its late payment and repayment interest rates. For taxpayers and businesses alike, this shift introduces new rates that may impact tax obligations and repayments. Key Changes: ▪️ Late Payment Interest Rate: This rate, charged on overdue tax payments, will now be set at 7.25% (base rate + 2.5%). ▪️ Repayment Interest Rate: For overpaid taxes and refunds, the repayment rate will decrease to 3.75% (base rate - 1%), with a minimum cap of 0.5%. These new rates are scheduled to take effect on: ▪️ 18 November 2024 for quarterly instalment payments; and ▪️ 26 November 2024 for all other non-quarterly instalments. This update underscores HMRC's commitment to mirroring changes in the Bank of England's base rate, ensuring that interest rates remain responsive to broader economic shifts. For taxpayers managing overdue liabilities or anticipating refunds, understanding these revised rates is crucial.

Criminal Finances Act 2017 - know your #tax evasion responsibilities https://lnkd.in/dSagk_q

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