Arts and Culture Briefing - Winter 2017
Welcome to the third edition of our Arts and Culture briefing.
In this edition we continue to bring you up to speed with recent developments in the world of VAT and Tax related matters as they impact Arts and Culture organisations, including recently decided VAT case law, the introduction of the Exhibition Tax Relief and a comparison with other reliefs in place. We also note some changes that are coming up for reporting purposes, in particular the Strategic Report emphasis on providing a ‘fair and balanced’ view of the performance of the organisation for the year and for those larger charities, the introduction of Gender Pay Gap reporting.
In 2014 we prepared a benchmarking survey aimed at the theatre sector, which was positively received. This year, we have developed a follow up survey which we hope some of you will contribute to and benefit from. A link to participate in the survey is included within the briefing.
We have an update on the Apprenticeship Levy and the basis of calculation. It will be important to watch out for government announcements of what amounts to a valid apprenticeship scheme for you to reclaim part of the contributions you put in. We shall update you as soon as any announcements are made.
Finally, we focus on IT security given recent statements by the Information Commissioners Office, and their ramping up of inspections. This is a key area for many Arts and Culture organisations given the information held, especially on staff, donors and customers. We provide a checklist of those areas that you should consider.
Towards the end of this briefing we have included a range of events relevant to the sector, including our upcoming event in partnership with Cazenove Charities, HMRC, Withers LLP and CFG which will discuss the key questions you may have about the Common Reporting Standard.
We hope that this edition is helpful to you and any queries, please do contact the authors who are identified throughout the briefing.Download this publication