HMRC update – Common Reporting Standard

Author's position
Article date
14 March 2017
Primary interest
Voluntary sector

In 2016 HMRC implemented the Common Reporting Standard (CRS) for financial instituions. Although the standard mainly applies to institutions such as banks to help avoid tax evasion, in some cases it also applies to charities. The deadline for reporting to HMRC is 31 May 2017 (and then annually by 31 May). For charities, it will mainly apply to certain grantmaking charities but all charities are encouraged to read and consider the following factsheet:

HMRC and Common Reporting Standards (CRS) Guidance for Charities

You can also find a wealth of further factsheets and resources in our Knowledgebase to help you run your group, such as guidance on employment, governance, funding, finance and more!

If you have a specific query, feel free to contact advice@rva.org.uk or 0118 9372 273