Financial policy template

This resource is designed to help you produce a finance policy for your music group. It focuses specifically on charities. If your music group is not a charity, many of the principles will still be useful but the specifics around the Charity Commission / OSCR and HMRC will not be relevant.

The template contains suggested headings for a financial policy. The notes in each section explain what sort of thing to cover in that section, along with some example wording. The wording will not be right for all groups, so you should adapt it to suit you needs.

Increasing the income stream: an OTR case study

Dr Alice Carter, treasurer of Henley Symphony Orchestra, explains how claiming Orchestra Tax Relief (OTR) has bridged the income gap in difficult financial times

Why did your group decide to claim OTR?

The financial benefit is substantial. This has kept us afloat through some very challenging times. We lost a major sponsor a few years ago and OTR has kept us going!

Accounts template

We have put together an accounts template to help you manage your finances.

How to claim Gift Aid for your group

This guidance describes the current situation with regard to Gift Aid and the voluntary music sector. Please note that Gift Aid is available to UK recognised charities, regardless of whether or not they are also registered charities.

Top tips for treasurers

While a group’s committee or trustees are jointly responsible for managing a group’s resources responsibly, the position of treasurer in an amateur music group is an important one – they are the person who receives money and makes payment on behalf of the group, and keeps an eye on the bank balance to make sure that the group remains solvent.

Record of Gift Aid Declaration template

Charities simply need to make a 'declaration' of who the donor is, how much they are giving you, and that they want tax to be reclaimed. Declarations can be in writing, or given verbally or electronically, and charities may devise their own forms.