Complying with Finance Regulations
Running the club’s finances is not just about preparing budgets and paying bills – it’s about keeping on the right side of the many rules and regulations that come your way too. But don’t worry, we’re here to spell out what you need to do!
Rules and regulations that you need to comply with can come from:
- Your club rules (articles if you are a company)
- Companies Act requirements
- HMRC (tax office)
- Government legislation
Getting it wrong can be an expensive business as fines can apply so you need to be aware of your responsibilities.
Some of the most important rules to comply with are:
- Annual accounts and audit requirements
- HMRC and Companies House returns
- Payroll and pensions
- Taxes including Corporation tax and VAT
- CASC and charity status