The financial thresholds for charities in England and Wales are under review — share your insights to ensure the sector's voice is heard.
The UK Government is currently reviewing the financial thresholds that determine the reporting and accounting requirements for charities in England and Wales. There are 21 thresholds in total, the ones most relevant to members relate to:
- When you must register as a charity
- The amount and type of information a charity is required to submit annually
- The level of external scrutiny required for a charity's financial accounts
Thresholds were last set in 2009, or earlier. The consultation is exploring whether to keep them the same, adjust for inflation, or raise them by 20% (if that’s less than inflation). You can read full details of the thresholds and consultation here.
These thresholds help the Charity Commission regulate and support the sector. Higher thresholds could reduce oversight by requiring less reporting from fewer charities. This needs to be balanced with avoiding unnecessary administrative burdens on small charities and the trustees that run them.
As a charity itself, Making Music will respond to the consultation. We strongly encourage members in England and Wales to do the same and give their views.
Respond directly to the consultation
Deadline: 12 June
As well as responding directly you can complete the Charity Finance Group (CFG) survey collecting feedback on the government's review. CFG is a leading voice on charity finance — completing the survey will help strengthen their advocacy on behalf of the sector.
