The Charity Commission are promising a new and improved system for filing your charity’s annual return, this being available from 31 August 2017.
All charities are required to keep their records with the Charity Commission up to date, including details of trustees and contact details. For those with income over £10,000 they are also required to submit an annual return to the Charity Commission, the deadline being 10 months from the end of the charity’s financial year end. Failure to meet this deadline will result in the Charity Commission highlighting on their central records for all to see that the charity is late in filing which can have a negative impact on the charity’s reputation.
What needs to be submitted as part of the annual return submission remains unchanged as follows:
• Charity Income < £10,000 – no requirement for a formal annual return however submission of income and expenditure figures for the year is required.
• Charity Income between £10,001 and £25,000 – submission of an annual return form
• Charity Income >£25,001 – submission of an annual return form and a copy of the financial statements for the charity which have either been subject to an independent examination or audit.
We welcome the new submission system which will hopefully make the process quicker and easier.
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