Understanding the 2023 Annual Return for Charities
The Charity Commission has taken a significant step forward in enhancing transparency and accountability within the charitable sector with the launch of the 2023 Annual Return. This crucial document is now readily accessible through the My Charity Commission Account service platform.
Charity Annual Returns 2023
This latest version of the annual return is a mandatory requirement for all charities with income over £10,000, preparing accounts with 2023-year ends and beyond. The key objective behind the revisions to the annual return’s questions is to provide both the Charity Commission and the public with a more comprehensive understanding of the diverse landscape of charities operating within the sector.
Exploring New and Refined Questions
The revamped annual return includes new and revised questions that delve into various aspects of charity operations. These questions aim to shed light on critical factors such as the roles and responsibilities of management within charities, the degree of reliance on specific income streams, the extent of grant-making activities, and the geographical areas that they do their good work in.
Tailored Questions for Different Charities
For all charities completing an annual return there will be a minimum of 26 questions that will need to be answered. So, a few more than in previous years! But the size of the charity then dictates what additional questions are required in the spirit of keeping it proportionate. This is important given the high regulatory burden that already exists for charities.
Access to the Updated Questions
To access the complete set of updated questions, you can visit the Charity Commission website, where detailed guidance and resources are available to help charities navigate the new requirements effectively.
Submission Deadline Remains Unchanged
And a friendly reminder, it continues to be the case that the Annual Return must be submitted within 10 months of the end of a charity’s financial reporting period. So, keep that date marked in your calendars!
Get in Touch for Assistance
The 2023 Annual Return represents a significant step toward greater transparency and accountability within the charitable sector. Embracing these changes will not only help your charity fulfil its legal obligations but also contribute to a more informed and responsible charitable landscape.
Should you require further information or assistance in understanding these changes and completing the Annual Return, do not hesitate to contact a member of our dedicated Charity & Not for Profit Team at 01903 234094. We are here to support you through this process and ensure that your charity’s reporting obligations are met efficiently.