More legislative changes !!!

SI 2009/508 - Threshold changes

Parliament has just approved a Statutory Instrument changing a number of charity thresholds. The main changes affect accounting periods ENDING on or after 1st April 2009 - that means in practical terms it applies to accounts to 30th April 2009 and onwards - so in a sense is retrospective, as it applies back into 2008.

The main changes are :-

The asset threshold for audit has increased from £2.8 million to £3.26 million

The threshold where a charity has to file accounts with the Charity Commission has increased from £10,000 to £25,000

The threshold where an Independent Examination is required has increased from £10,000 to £25,000

Remember - this only applies for accounting periods ending on or after 1st April 2009