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.
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 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.
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Auditors and independent examiners of UK charities must stay current with the latest reporting requirements.
Audit and Independent Examination
Guidance for auditors and independent examiners about the statutory duty to report any matters of significance to charity regulators in England and Wales, Scotland and Northern Ireland.
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.
Charity regulation and legislation
The Charity Commission has revamped its core guidance and published new five minute guides for all trustees.
Don't forget to report!
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.
UK charity sector asks the government for a Gift Aid Emergency Relief Package to support charities in crisis.
Charity Fraud Awareness Week is an annual event to raise awareness of fraud and cybercrime affecting the sector and to create a safe space for charities and their supporters to talk about fraud and share good practice.
New helpsheet for charities on keeping themselves safe in the pandemic and beyond, issued in December 2020 by the Fraud Advisory Panel, the Charity Commission, the National Cyber Security Centre and others.
The Charity Commission publishes findings from its research into the relationship between charities, the Charity Commission and the general public.
The Charity Commission updates its guidance on Serious Incident Reporting to trustees to cover the context of COVID-19 including its financial impact on may charities.
8 September: HMRC’s latest guidance sets out its VAT relief policy for a variety of digital advertising scenarios for charities.
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.
Brexit and charities
Information from the Charity Finance Group on Brexit. Includes articles on what the UK-EU agreement means for charities, how charities should prepare for a post-EU era and opportunities for civil society.
Guide to help third sector organisations in Wales prepare for Brexit. Covers more immediate actions together with medium and longer-term changes to consider.
Guidance from the Department for Digital, Culture, Media & Sport for the civil society sectors, including charities, social enterprises and voluntary organisations, on working with the EU from 1 January 2021.
A NCVO blog post on how the changes to UK law being made through Brexit secondary legislation may impact charities.
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