New reporting requirements for 2014 annual return
From 2014 onwards the Charity Commission will request additional information in a charity's annual return and will display additional information on the register of charities.
This includes whether any charity trustees are paid, whether the charity has a trading subsidiary, and whether a charity has written policies in place on identified key areas.
In addition, the Charity Commission will discontinue the requirement for charities with gross yearly income in excess of £1 million to file a Summary Information Return.
Key action points:
- Charities should familiarise themselves with the new questions and requirements.
- More information on the changes can be viewed at the Charity Commission's website.