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Charity and Voluntary Sector
BIG: The Big Lottery Fund is helping village life in England to weather the economic downturn by announcing close to £19m to revive village halls & centres at the heart of communities across England. 55 villages up & down the country will be strengthened as their village halls begin much-needed makeovers or build new ones from scratch.
CO: The Cabinet Office has announced that thousands of small charities will save a total of up to £5m a year as the Government cuts red tape by raising the income thresholds above which stricter accounting rules apply. All charities, including those with annual incomes under £25,000 must prepare accounts and make them available on request.
Key income threshold changes, coming into force from 1 April 2009 include:
* Raising the threshold above which charities prepare accruals accounts from £100,000 to £250,000 - around 11,700 in this category will benefit.
* Raising the threshold above which accounts must undergo external scrutiny from £10,000 to £25,000 - benefiting around 37,000 charities.
* Increasing in the threshold above which charities submit annual accounts and Trustees Annual Reports to the Charity Commission from £10,000 to £25,000 - this will benefit around 23,000 small charities.
Press release ~ The Charities Acts 1992 and 1993 (Substitution of Sums) Order 2009 (scroll down to No. 508) ~ Charity Commission ~ Office of the Third Sector
