What is Coastshare?
Coastshare is a not-for-profit company established by North Norfolk District Council and Great Yarmouth Borough Council to provide a framework that enables not-for-profit organisations to provide services to each other at cost and free of VAT, thereby delivering savings to both providers and recipients.
Coastshare is a new way to deliver services in the not for profit sector at a low cost and without VAT.
Coastshare has been set up by North Norfolk District Council and Great Yarmouth Borough Council in such a way that all members have a share and a say in how the company is run.
How does it work?
The not-for-profit company has been established to take advantage of the change in the Finance Act 2012 that allows for the provision of services to not-for-profit organisations VAT free, giving an immediate saving of 20%.
Coastshare services will be provided for the not-for-profit sector, including local authorities. These services have to be provided ‘at cost’ so no provider can make a profit from the provision of the service. This gives a price guarantee to those organisations ‘buying’ services.
There are no formal contracts; recipients of the service just pay for what they want to use.
Organisations that choose to become part of Coastshare will be able to access a ‘menu’ of services through a website. Available services will include legal, payroll, printing, heritage conservation and design, HR, property maintenance and management, project management, finance and treasury management. Any member will be able provide a service to another member and be reimbursed at cost for the delivery of that service.
The Coastshare website has a member’s area where members can talk directly to each other, to create a community of not-for-profit organisations working together to support each other.
There will be a board of members, made up of organisations supplying and delivering services, which will make decisions about the day-to-day running of Coastshare.
What services will be available through Coastshare?
There is no limit on the services that members can provide to each other; the service simply has to be “necessary” to the running of the organisation.
Any member can provide or receive services through Coastshare – it is up to them how much they choose to receive or deliver – there are no contracts or commission or hidden charges. Members can pick and choose what they want and arrange the service and the cost (which will always be VAT free) directly with the provider, however Coastshare will organise the reimbursement of services provided.
Access to services will be simple – the Coastshare website will give members a menu of services and contact details. Members can then simply make contact to discuss delivery of the service and agree a price. Once agreed, the service will then be delivered as if by an in-house department.
Claims for reimbursement of services provided should be sent to firstname.lastname@example.org