Description

An update on recent developments in charities law, including:

• What you need to know about the Charities Amendment Act 2023, including implications of the new definition of “officer” and the new duty to review governance procedures;
• A look at Charities Services’ new forms, including the requirement for larger charities to report the reasons for their accumulated funds in their annual returns;
• A brief look at recent financial reporting changes for charities, including increases to the thresholds, new financial reporting standards for tier 3 and 4, and possible impact on the financial reporting requirements for small charities under new sections 42AB and 42AC of the Charities Act;
• A discussion of recent tax developments relevant to charities, including changes made by the latest tax Bill, for example to the deregistration tax and in relation to donations of trading stock, recent public rulings, including in relation to the business income tax exemption for charities, and an update on the review of the donations tax credit regime, the FBT regulatory stewardship review, and the review of the mutuality provisions;
• A look at recent case law, including the recent decision of the Court of Appeal in the Better Public Media Trust case;
• A brief look at the Incorporated Societies Act 2022 and the Incorporated Societies Regulations 2023, both of which came into force on 5 October 2023, including what charities structured as incorporated societies need to know about reregistering before the transition period ends on 5 April 2026;
• If there’s time, it would be good to touch on a number of other issues relevant to charities, including social investment and measuring social impact, issues we are seeing in relation to complaints against charities and banking issues for charities, possible recommendations of the Abuse in Care Inquiry, the Companies (Directors Duties) Amendment Act 2023, recent guidance regarding investment duties issued by the Charity Commission for England and Wales following the Butler-Sloss decision, and others. 

The webinar is intended to be suitable for those involved with charities, at whatever level, advanced or otherwise. It is intended to give both a theoretical overview as well as sufficient detail to be practical. Practitioners from both small and large firms should attend.

ORIGINAL BROADCAST DATE

18 June 2024

LEARNING OUTCOMES 

A look at important developments relating to charities over the last year, including in relation to the Charities Act, the Incorporated Societies Act, financial reporting, tax, case law and other important recent developments that those involved with charities should be across.

SUITED TO 

Lawyers and accountants involved with charitable organisations in their professional and private capacities, not-for-profit specialists, and charities themselves.

All involved or likely to be involved with charities, at whatever level, should be familiar with these developments in charities law.

PRESENTER

Sue Barker, Director, Sue Barker Charities Law