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Charity Finance Professionals Community

Stay up-to-date with the latest developments in the fast-changing environment of charity finance, taxation and governance to support your work in the charity sector. See our content below.

View our resources on coronavirus and charities

Your community's content

Insights charity sector special

A special edition of ICAEW's Insights looking at how charities are facing the challenges presented by the coronavirus pandemic

CXK: funding must always meet funded project costs

15 May 2020: Pauline Smith is the chief executive officer of CXK, a charity that delivers a range of services that support individuals to improve life choices. Funding is central and, currently, that is tough but the response has underlined the value of third sector organisations.

 

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.

COVID-19: impact to charities and the government initiatives available to charities

The coronavirus pandemic continues to impact the lives of everyone across the country. Many working in the charity sector are expressing great concern about how to respond to the outbreak, including the implications for their organisation and their beneficiaries. Daniel Chan, Senior Manager at PwC, will explore the latest issues surrounding COVID-19 and the charity sector.

Accounting

 

Accounting for donated goods

The requirements of FRS 102, upon which Charities SORP 2015 is based, include a requirement to recognise the income from receipts of resources from non-exchange transactions (including donated goods) at the fair value of the donated goods received.

Charities SORP Bulletin 2: An update

An update of the Charities SORP (FRS 102) issued in July 2014 to reflect amendments issued by the Financial Reporting Council in December 2017

Audit and Independent Examination

Charity regulation and legislation

Charities Act 2011

The Charities Act 2011 came into force on 14 March 2012. The 2011 Act did not change existing law or introduce new policy but simplified the structure of the existing legislation. On this page you can find articles, books and online resources providing guidance, briefings and information on the Act itself.

Governance

Kreston Academies Benchmark Report 2019

The financial position of the sector has been challenging, but 2018 could probably best be described as a steady financial year in uncertain economic times. We have seen a slight decrease in the number of in-year deficits, and this is encouraging. Reserves are still falling but with deficits being lower on average than last year, the sector can now survive for longer than the 2-3 years that we extrapolated last year.

What to make of markets

Reality can differ depending upon your perception, and perceptions can change. At Ruffer we have never tried to predict the future, but to identify the key risks and protect our clients against them.

Taxation

HMRC Gift Aid online

Online service for charities, or community amateur sports clubs, to claim Gift Aid or tax back on other income. It also contains details of how a charity can register with Charities Online before making a claim.

Charity Tax Group

The Charity Tax Group was established in 1982 to make representations to Government on charity taxation and is the leading voice for the sector on this issue. It now has over 500 members of all sizes representing all types of charitable activity.

HMRC's charities and tax pages

HMRC’s overview pages explaining the different tax reliefs that charities can claim. Provides information on how to register a charity and instances when tax may be required to be paid.

Find out more about the implications of the decision to leave the EU on charities from our feed of externally produced articles and resources.

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Listen to previous recordings from the Charity Financial Professional Community.

Top tips for using Excel | 21 May 2020

Join David Lyford-Smith for this webinar exploring some Excel tips and tricks that you can use to improve your efficiency and reduce spreadsheet risk.

Charity Conference 2020 | 26 June 2020

We have carefully chosen sector experts who can provide the Charity and Voluntary Sector with relevant insight, key technical updates and compelling breakout sessions.

Charity Finance Professionals Community newsletters

February 2020

Topics covered include: What Brexit means for charities, Corporate criminal offence and Changes to the Employment Allowance from April 2020.

August 2019

Topics covered include: An ICAEW help sheet for when you are required to report to the Charity Regulator, a report of the charity tax commission, HMRC update information on tax relief on gifts of certain assets to charities and research on public awareness, trust and expectations.

July 2019

Topics covered include: Charity Commission report into Oxfam GB, Fraud advisory panel launch new report into UK fraud and corruption, Charity Commission publishes its reports and accounts and HMRC publishes MTD ‘myth busters’ help sheet.

May 2019

Topics covered include: guidance on relationships between charities and non-charities, gift aid donor benefit rules update, government announcements to improve village halls and the Charity Commission removing trustees for diverting funds.