Accountants for Charities and Schools

In a world in which the fundraising environment has changed drastically, charities need to think seriously about diversifying their income.

The DfE have now released the Academies Accounts Direction 2024 – 2025 for academy trust accounts ending 31 August 2025, along with model accounts and the auditor framework and guide.

The end of the tax year is a good opportunity to remind donors of the advantages of Gift Aid, says Stef Smith of Lovewell Blake’s Charities team.

Becoming a trustee doesn’t just benefit the charity involved, but offers many rewards to the individual, says Kyle Smith of Lovewell Blake’s Charities team.

Although the new Statement of Recommended Practice (SORP) doesn’t come into effect until next year, charities should be getting ready for it now.

A new report has highlighted a multi-million pound funding gap caused by inconsistent take-up of Gift Aid – which is shocking when many charities are struggling to make ends meet.

Two high-profile cases have shone the spotlight once again on charity fraud, says Stef Smith of Lovewell Blake’s Charities team

Charities need to diversify their fundraising streams to cope with a rapidly changing funding environment, with many traditional sources of income drying up – that was the advice given by one of the UK’s foremost charity fundraising specialists at a special webinar for the region’s charity trustees and managers.

With many charities reporting problems when it comes to banking, a newly-published voluntary organisation banking guide is a step in the right direction, says Stef Smith of Lovewell Blake’s Charities team.

The ESFA has now published the 2024 edition of the Academy Trust Handbook, which covers the requirements academy trusts must comply with from 1 September 2024.

Most charities spend a lot of effort seeking donations – but sometimes they may need to consider refusing a donation, or returning one which has already been made, says Kyle Smith of Lovewell Blake’s Charities team.

East Anglian chartered accountants Lovewell Blake has been named the best in the UK for its charity expertise by Charity Finance magazine, in its annual survey of accountancy firms offering specialist services to the charity sector.

The Education and Skills Funding Agency (ESFA) has issued updated guidance for academy trusts on the subject of reserves policy – and trustees should be familiarising themselves with the new advice before taking decisions about the levels of reserves held within their trust.

Charities are being urged not to delay completing their statutory Annual Returns, as a new format means that the task will require more time and input than in previous years.

The Charity Commission’s document aimed at charity trustees which gives guidance on investing charity money has been significantly updated.

A recent Supreme Court case could prove to be a game-changer for some charities – as it has clarified the position on Mandatory Rates Relief (MRR) for charities, and will make it much easier for them to challenge local authorities which reject their MRR applications.

Small charities with employees are often unaware that they are eligible for the Employment Allowance. This enables them to reduce their annual National Insurance liability by up to £5,000, so long as their total NI liabilities were less than £100,000 in the previous tax year. Unincorporated charities and Community Action Sports Clubs are also eligible.

Maximising fundraising income has never been more important – and arguably the fundraising environment has never been more challenging.

In the same way that limited companies have to file an Annual Return to Companies House each year confirming and/or updating their details, charities are required to file an Annual Return to the Charity Commission.

All charities rely on individuals who are willing to give their time and skills to act as trustees. Now a new online initiative from the Charity Commission has been launched to provide better support for trustees – and it’s a good idea for anyone on a charity’s board to sign up.

The Charity Commission has released a useful summary of the most important changes made to the Charities Act.

A dozen key indicators are vital to ensure a charity is being well managed financially – that was the message taken away by representatives from more than 20 Norfolk charities at the latest in a series of Charity Masterclasses being presented by Lovewell Blake.

A move to provide better support for trustees of charities by the body which regulates them has been welcomed as ‘a significant step forward’ by one of the region’s leading charity experts.

As charities emerge from the pandemic to uncertain times, it is more important than ever that their reserves policies reflect their current needs, says Rebecca Frost of Lovewell Blake’s specialist Charity team.

The Charity Commission has released a series of animated videos to promote its “five minute guides” for Trustees which were launched last year.

We often receive enquiries from small unincorporated not for profit organisations, such as clubs, who are growing and finding that they want to, or need to, review their structure. Sometimes they are taking on their first employees, or perhaps they need to rent a property.