Spacer image
Clever solutions for charity accounting
Click to subscribe to our free email newsletter

Charities Act 2011 comes into force

14th March 2012 is the commencement date

The Charities Act 2011 comes into force on 14th March 2012.

In one sense, this is not that dramatic. The Act is a consolidating act which combines the 2006 Act, the 1993 Act and one or two other pieces of legislation, but it does not alter the underlying law.

However, in another sense it is very important.

A set of charity accounts contains a large number of statutory references. These are in the Trustees' Report, the Examiner's or Auditor's Report, in the Balance Sheet and the notes.

From 14th March 2012, all these references must be to the Charities Act 2011 and not to previous legislation. This means the wording of all sets of accounts finalised on or after 14th March 2012 must be altered.

Unlike many other changes in legislation, these changes do not refer to any particular year end. They refer to all accounts finalised after 13th March 2012.

ANY set of accounts finalised before 14th March 2012 must be in accordance with the previous legislation. ANY accounts finalised after 13th March must quote the new legislation.

There is, however, a transitional permission in the Schedules to the 2011 Act, which validates accounts commenced before 14th March and finalised after 14th March. These can still quote the old legislation and be within the law.

Finalised for this purpose means where the audit report,examiner's report or accountant's report is signed off.

The charity templates puiblished by Sorpaid comply with the 2011 Act.


Our solutions
VT Software templates VT Charity Templates
Efficient and SORP compliant charity accounts production software....
Services for accountants Services for Accountants
Charity accounts advice for other accountants.
Services for Charities Services for Charities
Services and advice for charities and their trustees...
Related links
Graphic - no text
© Copyright 2005. Peter Brown & Co is a trading name of Undershot Ltd. Registered in England : No. 4114468. All rights reserved.
Graphic - no text