Last month, we saw in this blog post that there is a review in progress of annual reporting obligations for charities. Companies and LLPs also have annual obligations that are not just filing financial statements: here is a reminder of the details. Of course, charitable companies will be hit by both sets of requirements.
- Posts: 5
- Comments: 0
The FRC has noticed a range of practice in accounting for distributions within groups headed by charities, so has released an Exposure Draft clarifying the accounting treatment and proposing an amendment to deal with the tax-related consequences of this amendment.
The Charity Commission has recently issued a consultation on the proposed contents of the 2018 version of the Annual Return (“AR18”) that charities with income over £10,000 have to file with them. If this sounds familiar, it is because it is the second part of a two year project to review the annual return, which […]
It seemed possible for a while that there would be significant changes soon to FRS 102 in respect of revenue, leases and financial instruments. But a new statement from the FRC has confirmed that these plans are now deferred, so preparers can look forward to a period of stability.
New tax laws on automatic exchange of information will impose extra reporting requirements on some charities that have income from investments and that have beneficiaries, shareholders or lenders outside the UK. Charities with most of their income from donations, and those with all operations, investors and beneficiaries in the UK, will not need to report, […]