During this unforeseen prolonged period of economic downturn charities may need to re-assess their short to long term aims. Certain planned activities may need to be delayed or even cancelled while more crucial expenditure takes priority. Charities may find it necessary to make use of their reserves to cope, or even just survive, this on-going…
Due to Coronavirus, the Charity Commission had previously released guidance allowing Charities to postpone their scheduled AGMs to 30th September 2020, and allowing them to be held digitally. This guidance has now been updated to allow postponement of AGMs to 30th December 2020. The updated guidance can be viewed at – https://www.gov.uk/guidance/coronavirus-covid-19-guidance-for-the-charity-sector
In recent months many charities have found themselves in financial difficulties and an uncertainty of long-term survival, often caused by factors out of their control. Most notably the ongoing Covid-19 outbreak, which has had several knock-on effects such as a reduction in donation income or decreased operating capacity during the tightened lockdown rules. Other external…
The Charity Commission has launched a new public register for charities – making information more transparent. Using the below link, anyone can search for details of a charity which includes data such as financials, who the trustees are, and whether the charity fundraises from the public. The Charity Commission wants members of the…
Many of the charities we support have been concerned about the impact of Coronavirus, and have understandably had many questions with regards to support and how to manage the charity. Below is some of the latest government guidance (as of 26th June 2020) with regards to some of the most frequently asked questions that…
The Charity Commission released updated guidelines in April 2020 for auditors and independent examiners. This was based around the statutory duty to report to the charity regulators in the UK on matters of material significance. The three main changes in this updated guidance are as follows: confirmation that difficulties in carrying out an audit…
The spread of Coronavirus is being exploited by criminals to carry out fraud and cybercrime. Latest data from police shows there has been an increase in Coronavirus related scams. Any charity is at risk, but especially those providing services to the local community during this crisis. Common frauds and cybercrimes to be aware of…
All charities must file their Annual Return with the Charity Commission every year. The Charity Commission have released guidance regarding the current situation for anyone affected by coronavirus. If you are due to submit an annual return, but are unable to due to the virus, you must contact the Charity Commission before the filing…
HM Revenue & Customs have updated their Gift Aid for charities guidance. In particular, the tables under sections titled The Benefit Rule, Charity Auctions and Educational School trips have been updated the latter of which will be of interest to charities involved in the running of schools and Educational Trusts. The updated guidance…
Whether unincorporated, a charitable company or a CIO (charitable incorporated organisation), charities are required to have certain levels of assurance over their financial statements depending on their size. The limits are much smaller than companies, meaning that many charities require some sort of external scrutiny. The requirements by size are as follows: Income up to…