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