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Obligations as a new CIO

Finance

Andrew Cusick Chairman at Oakwood Neighbours Shed Posted 3 days ago

Hi there and thanks for letting us join !..
We really are newbies - we've just converted local Community Shed group into a CIO charity and we're trying to get our heads round our new obligations -  and I'd like to see how some folks deal with a few practical issues ;
First up - how do groups deal with cash contributions we don't have a local branch to pay the cash into - historically a member would take the cash and pay in the right amount into our account by BACS. Obviously that's not going to be happening any more. We fund our activities partially by selling stuff on our shed stand so folks often pay cash - what's the best way to get it into the account without A/ going into a branch or B/ it being routed via another account  ? 
Second question is do people have recommendation on how we can approach the VAT question. We are about to spend about £50,000 on new workshop facilities building two new sheds - I'm told VAT can be reclaimed for charities on capital expenditure, but to be honest we haven't a clue and fee we should get some good advice. where to go without spending a ton of cash ?! 
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