A range of support is on offer from WYCAS Community Accounting.
You can download a template spreadsheets for calculating the NI rise impact, book a free 30 minute call, or join their Finance Forum meeting.
WYCAS Finance Forum
Date: Thursday 12 December 2024
Time: 10 AM to 12 PM
Online via Zoom
Budgeting, including the NI changes, will be the main topic.
Anyone with an interest in finance is welcome to join us (paid staff, trustees, or volunteers etc.).
Government Budget Update
You will know by now that there were a number of changes in the Government Budget that will have an impact on charities and CICs. These changes will undoubtedly effect budgets for next year, in some cases severely. WYCAS have put together a quick list of things that might help:
- There are changes to the Government’s National Living /Minimum Wage, and you can find the full list of rates on gove.uk.
- Those of you who are interested in may also want to look at the website for the Real Living Wage Foundation, that encourages employers to pay wages in line with the cost of living.
- There will be notable changes to employer’s National Insurance Contributions (NICs) starting in April 2025, along with a significant increase in the Employment Allowance.
To help you quickly assess the impact of these changes WYCAS has developed a simple tool that you can download: WAGES COSTS spreadsheet, that allows you to calculate the increase in costs.
Given these additional pressures plus the generally difficult funding climate, it will be more important than ever to get your 25/26 budget agreed in good time. You might want to use another tool WYCAS has developed that you can download: BUDGET TOOL spreadsheet. It doesn’t cover everything but, it is a simple way of figuring out if your organisation has enough income to cover planned expenditure.
Contact WYCAS – Free 30 minute advice session
If you need help you can contact WYCAS with your detailed questions and one of the team will get back to you.
Every Monday afternoon up until December 16th, you can book a free 30 minute advice session, where one of our Community Accountants will take you through the full range of tools and/or answer any budgeting questions you may have.
Contact [email protected] to book your place (please put ‘Free Budgeting Support’ as your email subject).
Get in touch for help with your finance and accounts queries.
Information in this post was taken from the WYCAS website: Budget Update Oct 2024 post.
