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Charities Blog

Budget 2016 Plan for further academies

As expected, George Osborne has announced in the Budget today that all schools must become academies by 2020. If they cannot make the deadline, academy orders should be in place so that any remaining schools that have not converted by that date, will have done so by 2022. Of the 3,381 secondary schools there are currently 2,075 which are...

 

Date: 17th March, 2016
Author: Wendy Bambrick


Public Benefit of Independent Schools

This month the Charity Commission has released guidance on the Charity Commission’s position on issues relating to the public benefit of independent schools via a letter to the Independent Schools Council.  To see the full letter follow this link:...

 

Date: 3rd August, 2015
Author: Wendy Bambrick


Academies

Academies Accounts Direction The Education Funding Agency has announced that they are completing the Academies Accounts Direction for the year ended 31 August 2015. This was published in mid June, later than their published schedule. Failing Schools will be turned into Academies The government has announced that up to 1,000 schools in England,...

 

Date: 24th July, 2015
Author: Wendy Bambrick


Charity Commission updates

2015 Annual Return changes This is now available to complete on GOV.UK. The return includes three new questions: In the reporting period, how much income did you receive from: Contracts from central or local government to deliver services? Grants from central or local government? Does your charity have a policy on paying its staff? Has your...

 

Date: 24th July, 2015
Author: Wendy Bambrick


Law update

Charities (Protection and Social Investment) Bill The bill was announced in the 2015 Queen’s Speech on 28 May 2015. The bill is being introduced to: Give the Charity Commission the powers it needs to effectively tackle all the types of abuses charities may face, with the aim of protecting donations and reassuring the public that charities...

 

Date: 23rd July, 2015
Author: Wendy Bambrick


Changing times for the Financial Reporting Standard for Smaller Entities (FRSSE) and the Statements

For periods beginning on or after 1 January 2015 there are two new SORPs, the FRS102 SORP and the FRSSE SORP which replace SORP 2005. Smaller charities which meet the criteria can use the FRSSE SORP or can choose to use the FRS102 SORP. However, FRSSE will no longer exist for periods beginning on or after 1 January 2016, in its place FRS102 will...

 

Date: 23rd July, 2015
Author: Wendy Bambrick


Changes to the Charity Audit Thresholds

The thresholds at which a charity is required to have its annual accounts audited is changing and will apply to charities whose accounting periods ended on or after 31 March 2015. Existing regulations specify that the level of external scrutiny required on a charity’s financial statements is dependant on its level of income and expenditure,...

 

Date: 22nd July, 2015
Author: Wendy Bambrick


Changes to the Charity Audit Thresholds

The thresholds at which a charity is required to have its annual accounts audited is changing and will apply to charities whose accounting periods ended on or after 31 March 2015. Existing regulations specify that the level of external scrutiny required on a charity’s financial statements is dependant on its level of income and expenditure,...

 

Date: 8th April, 2015
Author: Wendy Bambrick


Consultation on ‘The essential trustee’

The Charity Commission is launching a consultation on an updated draft of its guide to trustees’ duties, ‘The essential trustee (CC3)’. The aim of the updated guidance is to make clearer that the Charity Commission expects trustees to comply with not only legal requirements (what trustees ‘must’ do), but also with...

 

Date: 27th November, 2014
Author: Wendy Bambrick


Summary of FRSSE Charity SORP

Changes between SORP 2005 and FRSSE SORP Core Modules Format of accounts: Module 1  -  Changes to the Trusteesí Annual Report The requirements for the Trustees’ Annual Report vary based on the size of the charity. These criteria are different to the eligibility limits to those determining which SORP to follow.  A...

 

Date: 24th November, 2014
Author: Wendy Bambrick


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