The Charity Commission, the independent regulator of charities in England and Wales, has updated the annual return form for 2014 which is now available to complete online via the Commission’s website. This is accompanied by new guidance to help those completing the form.
The annual return must be completed by all registered charities with an income over £10,000 within 10 months of their financial year end and the information is used to update the profile that appears on the online register of charities.
The updated form has been devised by the regulator following a consultation last year about the information that should be collected and displayed on the register of charities.
There are 7 new question areas on the annual form including details of whether the charity:
• raises funds from the public
• has a trading subsidiary
• pays trustees
• makes grants
• is regulated by or registered with Ofsted, Care Quality Commission, Homes and Communities Agency and the Financial Conduct Authority
• has written policies in risk management, investment, conflicts of interest, volunteer management, complaints handling and safeguarding vulnerable beneficiaries.
In addition the Summary Information Return, previously compulsory for charities with an annual income of £1million or more has been discontinued.
Since the consultation, the Commission has identified further information that it will collect and display as part of its toughened approach to the scrutiny of accounts, including asking whether charities accounts have been qualified by an auditor or independent examiner.
In addition to new questions, the Commission will be publishing information already held about charities including whether the charity is insolvent, in administration or subject to enforcement action for non-submission of accounts. The Commission will also be publishing information about whether a charity is a member of the Fundraising Standards Board.
Sam Younger, Chief Executive of the Charity Commission, says:
“The changes to the annual return and register are being introduced in order to better serve our regulatory work and the public’s interest in charities. The carefully considered changes mean that the extra information collected and displayed will be valuable in both promoting the compliance of the sector and in helping the public to make informed decisions about charities.
In revising the annual return we have to balance our need to collect this information with ensuring that we do not over burden charities and that we take account of any changes to charity law or reporting frameworks. For example, the ending of the Summary Information Return is a significant development which recognises the changes to the charity law framework that have occurred since it was first introduced.
The information that charities submit in their annual return helps to support the public trust and confidence in charities, both through increased transparency and by enabling the Commission to better regulate the charity sector.”
The new guidance can be found on the Commission website www.charitycommission.gov.uk
If you have any questions please speak to Jane Marshall: jane.marshall@bhp.co.uk
