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Bookkeeping, Club, Latest / 29.11.2016

questioniconMany clubs have a requirement to 'audit' their annual accounts in their constitution.     It is NOT a legal requirement for clubs to audit their accounts unless they are operating as a limited company and have either a turnover of over £6.5 million, have more than 50 employees, or they have assets worth more than £3.25 million, none of which are likely to apply to the vast majority of sports clubs. If your constitution states that the club must audit its accounts, the committee have a legal obligation to ensure this happens and could be personally liable for not ensuring this is carried out.    It is therefore recommended that clubs remove the work audit from their constitution and replace it with 'independent verification'.
Club, Latest, Marketing / 27.11.2016

questioniconWe are often asked by clubs and sports agencies as to what is the best way for them to get their members/partners more involved with the organisation and how best to keep them informed as to upcoming events. A Facebook group page provides the perfect (FREE) platform to achieve this and is a great way to enhance a 'sense of belonging'.     A group page can also be restricted to invitation only and can even be made secret, particularly useful if considering a group for juniors.
Bookkeeping, Coach, Expenses / 25.11.2016

A Sky Sports subscription is very unlikely to be accepted by HMRC (tax authorities) as an allowable expense for a sports coach.    A business expense has to be wholly and exclusively for business purposes - HMRC state on their website that:

The general rule is that costs you pay with the sole purpose of earning business profits are allowable expenses

A tax inspector we work with in the Midlands told us that they regularly get individuals claiming that they need Sky Sports for 'research' purposes and to 'keep up to date'.    These reasons will be unacceptable to HMRC and they will check to see whether a coach has made a similar claim for expenses in the past.
Bookkeeping, Club, Coach, Latest, Legal / 21.11.2016

questioniconThanks to Chris for this question asked at a workshop we ran this week for Southwark Council.      It is illegal to pay any child who is aged less than 13 years of age. If the child is aged 13 and over, you will need to apply to your local education authority for a work permit.   Do not pay a child if you do not have a permit - you can be fined up to £1,000 for not having a permit.    The permit will detail what hours the child can do, which will be dependent on their age.
Club, Latest, Tax, Volunteer / 16.11.2016

warningiconYet another sports clubs was officially informed this week that honorarium payments to committee members ARE taxable payments and therefore subject to tax and national insurance. The club have been paying an annual £1,500 payment to the Secretary and Treasurer for the past three years and were informed of the taxable nature of the payments by letter last week, following a tax investigation by HMRC (tax authorities).

Club, Coach, Latest, Self-Employment / 27.03.2016

questioniconIt is common for a coach at a club to do two specific types of work - coaching for the club where the club pay the coach, and coaching for individual members where the member pays the coach directly. A coach providing individual tuition directly to members does NOT have any impact on whether a coach is truly self-employed for the work they do for a club where the club pays the coach directly - HMRC (tax authorities) would treat the two types of work as being completely separate.
Club, Legal, Tax / 15.03.2016

thumbsupiconA Community Amateur Sports Club (CASC) has until the 1st April 2016 to either ensure it complies with the new CASC rules or to deregister without penalty. HMRC should have written to all clubs to inform them of this but we have heard from a number of clubs who have not received details.     The changes to the scheme came into effect on 1st April 2015 and included some welcome improvements as well as the inevitable tightening of the rules surrounding the scheme.
Bookkeeping, Club, Latest, Volunteer / 23.07.2015

warningiconThe latest in a recent spate of club official frauds in sport has again highlighted the need for clubs and associations to ensure that they have some basic checking in place to protect club funds from fraudsters. The treasurer of Yorkshire Lawn Tennis Association stole almost £300,000 from them over a period of six years and was this month sentenced to two years imprisonment.     Basic checks and procedures were not in place which enabled the fraud to take place over the six years and the association also made the decision not to report the matter to the authorities when they first realised what was happening in 2012, despite having identified the amount then missing to be over £70,000.
Bookkeeping, Club, Coach, Latest, Self-Employment / 11.02.2015

thumbsupiconThere are still a significant number of clubs, coaches and representative associations who believe that a coach must be employed by a club if the club tells the coach where and when they must work, and if the coach has to work as part of a team. This is not correct - a self-employed coach CAN be told where and when they will coach, work as part of a team, be required to wear a uniform, etc., so long as the coach fulfils one of the two other criteria HMRC (tax authorities) impose on a self-employment relationship - substitution or financial risk.
Coach, Latest, Tax / 08.02.2015

With another self-assessment deadline gone, now is a good time for coaches to review their bookkeeping records to ensure they won't have any problems if they are chosen for a tax inspection by HMRC. Here are our top five bookkeeping tips for coaches to get the new financial year off to a good start.