Charities : Trustees' Responsibilities

It is often considered an honour to act as a trustee for a charity and an opportunity to give something back to the community. However, becoming a trustee involves a certain commitment and level of responsibility which should not be underestimated.

Money Laundering and the Proceeds of Crime

Recent times have seen tough new rules introduced to crack down on money laundering and the proceeds of crime. The new rules affect a wide range of people and in this factsheet we consider how your organisation may be affected.

High Value Dealers

New regulations aimed at preventing money laundering became effective early in 2004. Known as the Money Laundering Regulations 2003 (the Regulations), these placed new onerous registration and procedural requirements on businesses that deal in goods and accept large cash payments. These were updated and replaced with effect from 15 December 2007 by the Money Laundering Regulations 2007. 

Limited Liability Partnerships

From 6 April 2001, there is a business vehicle in addition to companies, traditional partnerships and sole traders. It is now possible to run your business using what is known as a Limited Liability Partnership (LLP).

Community Amateur Sports Clubs

Since April 2002, many local amateur sports clubs have been able to register with the Revenue as Community Amateur Sports Clubs (CASCs) and benefit from a range of tax reliefs including Gift Aid.

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