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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.

Your community's content

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.

Charities Act 2006

The Charities Act 2006 was enacted in November 2006. 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.

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.

Data Protection and Brexit - Is your organisation prepared?

Article from GOV.UK reminding businesses and charities which share personal data with organisations in the EEA that they will need to take steps to ensure they continue to comply with data protection laws if the UK leaves the EU without a deal. The article provides pointers to the practical guidance available to help businesses and charities with this task.

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Events

Making Tax Digital for Charities

This webinar looks at the administrative and technical requirements which will apply to charities going forward as MTD launches, including time limits, exemptions and group reporting requirements. Date: 29 March 2019, 15:00-16:00. Free for community members. Available on demand afterwards.

Good Practice in Financial Governance

At this webinar two speakers from the Charity Commission will explain what good practice looks like from the regulator's perspective. Date: 24 May 2019, 12:00-13:00. Free for community members.

ICAEW Charity Conference 2019

ICAEW's popular Charity Conference is to take place at etc venues near the Barbican, London on June 28.

Past newsletters and consultations