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Charity Update 27 June 2013

27/06/2013

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United Kingdom

Charity Update 27 June 2013

3 June 2013

Charity Bank change of structure

Charity Bank changes its structure in order to raise capital from a wider community of investors.

Charity Bank 


4 June 2013

MPs publish report on Charity Commission: the Cup Trust and tax avoidance

“My Committee does not believe the Cup Trust ever met the legal criteria to qualify as a registered charity. Its purpose was to avoid UK tax." Rt Hon Margaret Hodge MP.

Public Accounts Committee

Charity Commission responds to Public Accounts Committee on Cup Trust

Charity Commission


6 June 2013

Charity Finance Group and The Charity Commission welcomes PASC's post-legislative scrutiny report into the Charities Act 2006

CFG is pleased that PASC is against the recommendation to introduce a charging system for the registration of new charities or the submission of annual returns, and supports removal of the requirement for dual registration of charitable companies and clarification of public benefit reporting.

William Shawcross, Chairman of the Charity Commission said; “We welcome the Public Administration Select Committee’s thoughtful and balanced report today on their post-legislative scrutiny of the Charities Act 2006."

Charity Finance Group

Charity Commission


6 June 2013

NFA report shows 10% of larger charities detect fraud

The latest report of the National Finance Authority examining charities with income over £100,000 shows that one in ten detected fraud in 2011/12.

Charity Commission

The Fieldfisher team is highly experienced in commercially complex fraud and corruption cases, and global asset tracing claims.
 
Our expertise is recognised by the Legal Directories.


6 June 2013

PM launches consultation on social investment tax relief

Prime Minister David Cameron launches a consultation on social investment tax relief and promises that the Big Society Capital and Big Lottery Fund will provide £250m over the next decade to help communities take over local assets.

Civil Society 


12 June 2013

CAF report says councils must not target cuts at charity services

Research by the Charities Aid Foundation shows that nearly three quarters of people surveyed do not want councils to cut funding to charities by more than they cut other services.

Charities Aid Foundation 


12 June 2013

Cup Trust commits to spend all £46m of gift aid on grants if claims succeed

If HMRC pays out the £46m in gift aid claimed by the Cup Trust, the Trust will apply all the monies to charitable grants and voluntarily provide details to the Charity Commission of all grants made.

Civil Society 


13 June 2013

Charities to be subject to new anti-tax avoidance rules

Treasury Secretary David Gauke announces that the Treasury will not exempt charities from complying with anti-tax avoidance measures to be introduced in Finance Act 2013 to avoid encouraging “sham charities”,

Civil Society


20 June 2013

Charity Commission proposes transferring regulation of CIFs to the FCA

The Charity Commission launches a twelve-week consultation on the regulation of Common Investment Funds which includes a proposal to transfer responsibility for regulation to the Financial Conduct Authority. 

Civil Society


20 June 2013

NCVO says Government must listen to the voluntary sector

NCVO encourages the Government to take on board the views of the voluntary sector in order to develop effective policy.

NCVO


20 June 2013

Impact Coalition urges charities to increase transparency in new publication

The Impact Coalition, a movement seeking to improve transparency and accountability in the UK charity sector, publishes 'Through a glass darkly: the case for accelerating the drive for accountability, clarity and transparency in the charity sector'.

Charity Finance Group


21 June 2013

New database to show how charity money is spent

The Government announces a commitment to create an open database of charity finances by March 2014 to allow philanthropists to assess how charities spend their money.

Philanthropy


21 June 2013

New report highlights risks and benefits of social investment to charities

The Charity Commission highlights some key regulatory issues in its analysis.

Charity Commission


21 June 2013

ACEVO defends fee charging health charities

Acevo defends fee-charging health charities after US provider of private hospitals criticises tax breaks.

Civil Society

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