All charities have a legal obligation to submit a return to the Charity Commission. What charities need to submit in its annual return depends on their annual income.
If this is:
- Under £10,000, you just need to submit your charity’s income and expenditure figures – the Commission says the easiest way to do this is through the annual return service
- Between £10,001 and £25,000, you need to complete an annual return form
- More than £25,000, you must submit an annual return form with a set of annual accounts as well as an independent examiners’ or audit report and a trustees’ annual report (TAR)
The Charity Commission also provides a guide to the accounting essentials for charities, which explains the type of accounts a charity has to prepare, and whether they need an audit or independent examination.
All Charitable Incorporated Organisations (CIOs) need to submit an annual return and annual accounts. If a CIO has an income over £25,000 it also need to submit an independent examiners’ or audit report along with a trustees’ annual report.
source uk fundraising sept 2017