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 charities15 May 2020: In Kind Direct operates at the interface of the corporate world and the charity sector. It has seen first-hand what COVID-19 has meant for both, says its Chief Executive, Rosanne Gray.
15 May 2020: Let’s try walking in the shoes of beneficiaries is the plea from Debra Allcock Tyler, chief executive of the Directory of Social Change (DSC), commenting on the fall-out from COVID-19 for charities.
22 May 2020: An interview with Roberta Fusco, the Director of Policy and Engagement at the Charity Finance Group (CFG). She anticipates that, in the short term, the charity sector is at risk of contraction.
15 May 2020: The topic for the #icaewchartoftheweek is on the charity sector
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.
15 May 2020: As part of a charity sector special, ICAEW Insights looks at how coronavirus has exposed vulnerabilities in charities’ funding models and how the sector is adapting to the ‘new normal’ in order to help others.
15 May 2020: Philippa Kelly, Director of ICAEW’s Technical Strategy Business Group, looks at the business support available for charities.
In setting out the Charity Commission’s approach our Chief Executive, Helen Stephenson, is clear that it is important that we get regulation right in this exceptionally demanding period for 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 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.
The impact of lockdown for Covid-19 means that many charity trading subsidiaries may now be making significantly reduced profits or even losses.
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.
Guidance on the application of company law on distributions to charitable donations to their parent made by UK subsidiaries of registered charities.
A statement of recommended practice for charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
Amendments to FRS 102 issued by the Financial Reporting Council in July 2015 – Small entities and other minor amendments.
An update of the Charities SORP (FRS 102) issued in July 2014 to reflect amendments issued by the Financial Reporting Council in December 2017
Auditors and independent examiners of UK charities must stay current with the latest reporting requirements.
Following the recent release of updated guidance for auditors and independent examiners, the Charity Commission has announced that it will be conducting a review of all independent examination reports or audit opinions, signed on or after 1 May 2020.
Technical helpsheet issued to help ICAEW members to understand key requirements relating to the financial reporting and scrutiny of charities registered in England and Wales.
Technical helpsheet issued to help ICAEW members to understand key requirements relating to the financial reporting and scrutiny of charities registered in Northern Ireland.
Technical helpsheet issued to help ICAEW members to understand key requirements relating to the financial reporting and scrutiny of charities registered in Scotland.
The Scottish Government is requesting responses to an open consultation into the effectiveness of Scottish charity law.
The joint SORP-making body has opened a consultation into the Charities SORP following the triennial review of FRS 102.
Auditors and independent examiners of UK charities must stay current with the latest reporting requirements.
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.
The Charity Commission’s questions provide a useful guide for trustees to identify any areas of weakness.
Reporting a modified audit or independent examination opinion as a serious incident to the relevant UK charity regulator.
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.
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.
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.
Find out what a charity is, how VAT affects charities, how to treat a charity's income for VAT and what VAT reliefs a charity can get on what it buys.
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 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.
A guide to help third sector organisations in Wales prepare for Brexit. It highlights some key resources and questions to consider.
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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.
Don Bawtree provides an accounting update and the impact of COVID-19 on the charity sector.
We have carefully chosen sector experts who can provide the Charity and Voluntary Sector with relevant insight, key technical updates and compelling breakout sessions.
This course explains the complexities of the changes that FRS 102 brings to the charity sector, designed to build your confidence in dealing with technical accounting areas.
Topics covered include: What Brexit means for charities, Corporate criminal offence and Changes to the Employment Allowance from April 2020.
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.
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.
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.