Derby City Council Funding Cuts is happening?

In March 2016, Derby City Council (DCC) announced that it would no longer be funding the Voluntary Sector Organisations in Derby City.

What effect will this have?

This has huge financial implications for all charities in the city, and Derby Community Accountancy Service (DCAS) is no exception, as we also have lost our Support Grant from Derby City Council

What about DCAS?

For infrastructure organisations such as ourselves, grant funding to make up the loss of funding from DCC is not readily available.

Unlike a commercial accountancy company, we cannot use the profits that we make on the work that we do with commercial businesses to support our charity work, because ALL of our work is with charitable organisations.

We are actually at a commercial disadvantage to the private sector companies, because of all the charitable work that we do FREE OF CHARGE – this includes the training courses that we provide, and the one-to-one support that we give to charitable organisations.

How will this affect our service users?

Unfortunately, this means that we will have to raise tha charges that we make for our Independent Examination Services of between £50-£100 – this will still be far cheaper than any alternative commercial accountancy service

Will any services stop?

NO! – and we will still be able to provide the free training courses and individual sessions that we have made available to you all over the years.

Thank you all

Although we may no longer have the support of Derby City Council, we are proud to say that we still have the support of you all in the Voluntary Sector.  We greatly appreciate and admire all the work that you do for the people of this city, and we will do everything in our power to continue to support you.

Understanding W1 or M1 Tax Codes

If your employee’s tax code has ‘W1’ or ‘M1’ at the end

W1 (week 1) and M1 (month 1) are emergency tax codes and appear at the end of an employee’s tax code, eg ‘577L W1’ or ‘577L M1’. Calculate your employee’s tax only on what they are paid in the current pay period, not the whole year.

Updating for the new tax year

HM Revenue and Customs (HMRC) will tell you between January and March about any new tax codes to use for employees in the new tax year. This starts on 6 April.

If an employee’s tax code isn’t changing, HMRC won’t contact you and you should carry forward the employee’s tax code to the new tax year.

If your employee’s tax code ends with ‘M1’ or ‘W1’ (‘month 1’ or ‘week 1’), don’t carry this part of the code into the new tax year.

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