Welcome to the December edition of MHA Not for Profit eNews
In the December edition, we reflect on 2021 and what issues will be key for charities to consider in 2022.
As one of the largest advisors to the not-for-profit sector, MHA has found that whilst some charities have struggled, many have published very buoyant results, with some reporting their best ever as well as high levels of reserves. However, as many also recognise, the 2021/22 financial year is likely to be far more challenging for charities due to emergency funding (eg: grants, relief awards, furlough etc.) being far less prevalent whilst costs will return in full. The economy also looks set to enter a period of higher levels of inflation and taxation which will drive up general costs and impact on wage demands.
Back in 2021 the world of charity news was more ‘normal’ than the reactionary measures we reported upon during 2020 when we tracked the measures from the pandemic fallout. We have covered a significant number of important areas in 2021 so this is a good time to take a breath and highlight those issues that will still be important to consider heading into 2022.
This eNews focuses on the management of risk, recruiting new trustees, trading effectively, as well as managing tax and capitalising on available reliefs, amongst others key issues.
We hope this guidance will support your charity to take on 2022, managing your new-found reserve position whilst tackling the challenge of uncertainty.
Download a copy of our latest newsletter using the link below or if you have any questions, please do not hesitate to contact Stuart Mckay.
If you have any questions about the topics raised in this issue or would like to discuss your accounting and business advisory needs with one of our sector specialists, please contact Stuart Mckay, Not for Profit Partner directly or send us an online enquiry.
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NFP e News December 2021
