M&A Integration Scorecard Summary
This document provides a comprehensive overview of the M&A integration scorecard progress within the first 100 days. It includes financial synergies, operational synergies, market/customer synergies, project status, and key milestones achieved. The scorecard evaluates the actual performance against the planned targets, highlighting successes and areas for improvement in the integration process.
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CTG Regional Meeting Birmingham 19 June 2017 @ @CharityTaxGroup CharityTaxGroup # #CTGbrum CTGbrum The voice of charities on Tax
Charity Tax Group Leading representative body for charities on tax issues Over 500 Charity and Observer members Lobbying and information provision role New website www.charitytaxgroup.org.uk with regular newsletters and consultation & case law trackers Join today! The voice of charities on Tax
Charity Tax Group Future of VAT Brexit, EC, OTS and General Election Topical VAT updates Gift Aid practical and policy issues Business rates Other tax issues The voice of charities on Tax
Future of VAT Brexit and beyond The voice of charities on Tax
VAT and Brexit Brexit presents significant opportunities on VAT, but also potential threats to valuable reliefs/exemptions CTG in ongoing dialogue with HMRC/HMT However, great deal of uncertainty at present CTG intends to submit a clear set of pragmatic and costed reform proposals to Government CTG planning economic research project to inform the debate around charity taxation/reliefs The voice of charities on Tax
European Commission VAT review EC consulted on two options for permanent VAT system: 1. Maintain minimum standard rate at 15%, update list of goods and services eligible for reduced/zero rates 2. Remove minimum rate, abolish list and allow Member States greater discretion in fixing their own rates CTG led formulation of ECCVAT response, welcoming flexibility of option 2 BUT BUT noting need for safeguards CTG outside of EC VAT system but still likely to be persuasive. The voice of charities on Tax
Office of Tax Simplification VAT review Report included charities as key area of complexity because of increase in size and diversity of the sector CTG asked to respond on focus areas, including: Implications of a high registration threshold Complexity of multiple rates Possibility of simplifications to partial exemption, option to tax and capital goods scheme VAT implications of MTD agenda The voice of charities on Tax
Office of Tax Simplification VAT review CTG recently met the review team and highlighted important simplifications that could benefit charities OTS officials made clear Review was roadmap for post- Brexit VAT system CTG s response suggests two proposals for simplification: Refund scheme to remove irrecoverable VAT burden Extend reduced and zero rates to cover all supplies to charities, while protecting rates for supplies by to by charities The voice of charities on Tax
General Election 2017 Surprise result of General Election throws Brexit situation into more uncertainty no clear mandate for any party Next few days and weeks will be crucial in defining how this process will play out CTG will remain an important part of the discussion looking to build relationship with new charity Ministers: Mel Stride, Minister for taxation and charities at HMT Tracey Crouch, Minister for Civil Society at DCMS The voice of charities on Tax
Topical VAT updates The voice of charities on Tax
CTGs work on VAT VAT Expert Group Representation on the JVCC Work with HMRC to update grants/contracts and sponsorship guidance notes VAT case law tracker Calls for feedback on practical outcomes of legislative change eg. Direct Mail and HMRC assessments The voice of charities on Tax
VAT cases Longridge on the Thames and Gravel Road Records Adecco British Film Institute Aviva, DNB Banka, Luxembourg Sveda, Durham Cathedral Newcastle University Halle Concerts Society J&B Hopkins Ltd The voice of charities on Tax
Other VAT updates University of Cambridge case on VAT and investment management fees delayed Brockenhurst CJEU rules in favour of College Group registration review VAT treatment of e-books reviewed Charity Advertising The voice of charities on Tax
Gift Aid practical and policy issues The voice of charities on Tax
Gift Aid and online fundraising HMRC aiming to improve donor education clarifying process for online fundraising donations in particular High number of non-eligible donations 1m/month More detailed eligibility test designed in collaboration with and being implemented by major online platforms Aim also to improve quality of donor fundraising packs The voice of charities on Tax
Gift Aid and online fundraising New questions make clear: Money donated is completely donor s own money own money Not proceeds of sale of goods, services or tickets Donor did not receive something in return for donation Donations from close family Christmas card test HMRC operating light touch, but stressing importance of getting this right updated guidance 3.44 The voice of charities on Tax
Other Gift Aid policy developments New GASDS GASDS provisions in place, increasing accessibility and aiming to future-proof the scheme Government decision on donor benefits awaited CTG in favour of two-tier spliced system donor benefits simplification still CTG Gift Aid practical issues working group practical issues working group continuing research into treatment of Gift Aid and gone the implications of GDPR GDPR for Gift Aid gone aways aways and New rules for intermediaries annual positive renewal of Gift Aid eligibility intermediaries Annual Statements and The voice of charities on Tax
Gift Aid audits and penalties CTG also receiving evidence that HMRC embarking on a new round of audits after a noticeable period of absence Concern that HMRC s approach is harsher than in the past charities risk significant cost if penalised CTG keen to receive feedback on individual experiences of audit process, to inform wider sector The voice of charities on Tax
Business Rates The voice of charities on Tax
Business rates England Government committed to protecting mandatory relief vitally important worth up to 1.8bn a year Local Authorities to gain full control puts further pressure on discretionary relief leading to postcode lottery Budget announcement gives LAs 300m budget for further discretionary relief to those affected by revaluation Proposal for CTG members business rates network to collate and share knowledge in one place The voice of charities on Tax
Other Tax issues The voice of charities on Tax
Making Tax Digital (MTD) Proposals aim to simplify tax system to minimise incorrect payments of tax for individuals and businesses Charities to be exempt from MTD requirements (though able to participate if they have the resources) However, charitable trading subsidiaries not included CTG to work with HMRC on MTD pilot Legislation for MTD removed from recent Finance Bill The voice of charities on Tax
Other tax issues Insurance Premium Tax Insurance Premium Tax risen to 12% from June cost of latest increase at over 1m this year (100 charities). Government has no intention of allowing special rates Community Infrastructure Levy Community Infrastructure Levy not raising enough revenue replacement recommended with no exemptions. Government expected to respond in Autumn Budget Consultation on tax treatment of employer accommodation accommodation awaited exemption is of vital importance to many charities employer- -provided living provided living The voice of charities on Tax
Other tax issues Apprenticeship Levy Apprenticeship Levy Now in operation for employers with 3m+ paybill. Effective or just another payroll tax for charities? CTG wants to extend it to volunteer training Common Reporting Standard Common Reporting Standard First filing deadline was 31 May 2017. CTG keen for feedback on experience for charitable trusts RDEC RDEC CTG working with AMRC to reinstate charity eligibility for R&D tax credits Donations from subsidiaries Donations from subsidiaries Gift Aid payments distributions Restitution interest Restitution interest CTG secures valuable charity exemption The voice of charities on Tax
Tax changes for 2017-18 1 April 2017 1 April 2017 6 April 2017 6 April 2017 New rules for VAT on adapted motor vehicles for disabled Off-payroll workers rules start Apprenticeship Levy begins VAT thresholds increase Changes to the GASDS National Minimum Wage increases Gift Aid and intermediaries rules change Museum and Galleries Tax Relief in force SITR enlarged Changes to BiK under a salary sacrifice scheme The voice of charities on Tax
Charity Tax Group For more information or to register for the CTG newsletter contact us at: 020 7222 1265 info@charitytaxgroup.org.uk www.charitytaxgroup.org.uk @CharityTaxGroup Support CTG in 2017! The voice of charities on Tax
CTG Regional Meeting Birmingham 19 June 2017 @ @CharityTaxGroup CharityTaxGroup # #CTGbrum CTGbrum The voice of charities on Tax
