Charities have been asked to respond to a government review, which asks whether financial thresholds should rise in line with inflation.
The 10-week consultation published by the Department for Culture, Media and Sport asks whether all 21 financial thresholds in charity law should rise with inflation, increase partially or stay at current rates. Potential changes include increasing the audit threshold from £1m to £1.5m in terms of annual income, which would mean around 2,000 charities would no longer be required to have their accounts fully audited. Read more here and find out more here.