Articles in "Charities"

East Anglian chartered accountants Lovewell Blake has been named the best in the UK for its charity expertise by Charity Finance magazine, in its annual survey of accountancy firms offering specialist services to the charity sector.

The Education and Skills Funding Agency (ESFA) has issued updated guidance for academy trusts on the subject of reserves policy – and trustees should be familiarising themselves with the new advice before taking decisions about the levels of reserves held within their trust.

Charities are being urged not to delay completing their statutory Annual Returns, as a new format means that the task will require more time and input than in previous years.

The Charity Commission’s document aimed at charity trustees which gives guidance on investing charity money has been significantly updated.

A recent Supreme Court case could prove to be a game-changer for some charities – as it has clarified the position on Mandatory Rates Relief (MRR) for charities, and will make it much easier for them to challenge local authorities which reject their MRR applications.

Small charities with employees are often unaware that they are eligible for the Employment Allowance. This enables them to reduce their annual National Insurance liability by up to £5,000, so long as their total NI liabilities were less than £100,000 in the previous tax year. Unincorporated charities and Community Action Sports Clubs are also eligible.

Maximising fundraising income has never been more important – and arguably the fundraising environment has never been more challenging.

In the same way that limited companies have to file an Annual Return to Companies House each year confirming and/or updating their details, charities are required to file an Annual Return to the Charity Commission.