Scams have increased during the pandemic, with tax-related scams doubling in the last year.
Coronavirus and charities
The coronavirus COVID-19 epidemic is affecting charities and volunteer organisations. This page gathers ICAEW insights and externally-produced resources providing practical information on managing charity finances and delivering services safely.
The ICAEW has two communities in this sector that may be of assistance:
What should charities be considering when they prepare their annual accounts?
COVID-19 implications for charity accounting – updated guidance
Read ICAEW's recently updated guidance.
The Kruger report recognises the contribution of charities and volunteers in the support of communities during the COVID-crisis and sets out 20 recommendations for a new social covenant.
The COVID-19 pandemic may place subsidiaries in financial difficulty, leading to a greater need for letters of support.
Charity retail in recovery
Shop closures during lockdown left a hole in charities’ budgets, but continued rate reliefs and an extension to the retail grant scheme would help charity shops recover.
Retail Hospitality and Leisure Grant Fund
Charities in receipt of a grant from the government’s Retail, Hospitality and Leisure Grant Fund have been asking whether to recognise the grant in March or April 2020.
This guide highlights a number of key issues arising from COVID-19 that may require consideration in connection with trustees’ annual reports and accounts for charities.
Guidance issued jointly by the UK Charity Regulators to assist Independent Examiners with some of the considerations that may arise due to the impact of the COVID-19 virus. Covers restrictions on access to records; access to those in management and control of the charity; risk factors; implications for the examiner's report; sign off and filing of accounts.
This update considers the potential impact of COVID-19 on the yet to be published annual reports and financial statements of charities.
Guidance for trustees and preparers of charity accounts produced by the SORP-making body. The briefing highlights the potential impact of control measures to contain COVID-19 on financial reporting by charities and discusses the implications for trustees' annual reports, going concern and the alternative basis to going concern when preparing accounts under the Charities SORP.
Any charity that needs an extension to their annual return deadline can contact the Charity Commission to ask for one.
Detailed summary of a report by nfpSynergy on how the pandemic has affected the UK charity and voluntary sectors. The report covers financial impacts; service provision; the public and charities; and the impact on the sectors’ ability to deliver its charitable purposes.
Tips and resources for chairing an online meeting.
A quick guide for trustees and directors of public service mutuals and co-operatives concerned about solvency and wondering how to approach it in the immediate crisis caused by the coronavirus shutdown.
This brief guide to trustee meetings aims to help you get the procedure right while procedures cannot be currently followed to the letter of the law.
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ICAEW’s online training modules provide an overview of charity trustees’ legal and financial responsibilities and their strategic and operational considerations.
To support its members and the wider sector, Charity Tax Group has collated relevant guidance and announcements to inform charities during on Covid-19
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