A recent analysis by Pro Bono Economics (PBE) has found that rates of formal volunteering have reached an all-time low as 40% of charities report that volunteering numbers have been insufficient to enable them to meet their main objectives in the last 12 months. Small...
Navigating the financial landscape can be complex, especially when it comes to managing accounts for different types of organisation. While both business and charity financial reporting is essential for their respective entities, they serve distinct purposes and...
The role of a charity trustee One of the biggest challenges for charities and trustees is determining where trustee involvement should begin and end. This is particularly important for small and growing charities. It is also important to clarify the differing roles of...
New research has found that charity sector income in the UK has shrunk for the first time in eight years for the 2020/21 tax year. It is thought that smaller charities have been affected the most due to the impact of the pandemic. The UK Civil Society Almanac 2023 has...
Managing and investing charity funds is a delicate balancing act. Trustees have a responsibility to ensure that funds are invested in a manner that aligns with the charitable purpose of the organisation whilst maximising returns. On 1st August 2023, the Charity...
Whistleblowing plays a vital role in exposing wrongdoing, fostering transparency, and holding organisations accountable. Whistleblowing occurs when individuals within an organization bring to attention unethical or illegal practices, aiming to expose them to the...
According to a recent study by Pro Bono Economics over half of charities (54%) have vacancies they are looking to fill. Furthermore, 83% of charities are finding it challenging to recruit as they attempt to meet increasing demand. Recruitment issues These...
Hundreds of charities and social enterprises across the UK are set to receive a share of tied up and forgotten accounts worth millions. There is £800m worth of dormant assets and the government has recently announced how £76m of these assets will be distributed. The...
The first set of provisions from the Charities Act 2022 came into force on 31st October 2022. The first set of provisions can be found here: https://www.gov.uk/government/news/first-set-of-changes-from-charities-act-2022-come-into-force The Charities Act 2022 gained...
In 2021, one in eight charities (12.5%) were victims of a cyber-attack according to a survey of 2,330 charities across England and Wales conducted by IFF Research. The pandemic meant that charities were forced to gravitate towards online fundraising methods to enable...
Recent data has found that one-off charitable donations have dropped due to the cost-of-living crisis. However, perhaps unsurprisingly since the start of the pandemic charities have reported a significant rise in digital donations. One-off charity donations...
Charity employees and trustees often assume that they receive an automatic VAT exemption on all goods and services that they buy/receive. This is not the case and charities should understand the few concessions in the VAT legislation that can reduce their VAT bills....