Some financial thresholds on charity accounts have been amended for financial years ending on or after 1 April 2009. 

The main changes are:

• A charity is required to send a copy of its accounts and trustees’ annual report to the Charity Commission if its gross income is more than £25,000 (increased from £10,000), (the Charity Commission is likely to introduce some form of sampling for charities with income between £10,000 and £25,000 so that small charities cannot assume that submission of their documents will never be required).
• External scrutiny of the accounts will only be required where a charity has gross income of more than £25,000 (also increased from £10,000).
• Unincorporated charities with income over £250,000 must prepare accrual accounts (increased from £100,000).
• A full audit is now required where:
  • Gross income is more than £500,000 (unchanged).
  • Gross income is more than £250,000 (increased from £100,000) and total assets are more than £3.26 million (increased from £2.8 million).

Comment on changes to charity thresholds in the space provided below, or visit my profile for details of how to contact me. 

Wendy Brambrick is a General Practice Manager and charities and not-for-profit expert at Mercer & Hole. 

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