VAT Compensation Scheme for Charities - do not miss the deadline this year!
We would like to remind you that the claim for the VAT Compensation Scheme for Charities must be submitted by the 30th June 2020 for expenditure paid during 2019. Now is the time to gather the information required to prepare these claims.
An introduction to the Charities Governance Code
The Charities Regulator in Ireland launched their Charities Governance Code (‘the Code’) in November 2018. It takes effect on 1 January 2020, with all charities required to comply from that date. From 2021, charities registered with the Regulator will be required to report their compliance annually as part of their Annual Return.
An introduction to the Charities SORP
In 2016, the CRA began a consultation process on the draft Charities (Accounting and Reporting) Regulations 2016; these regulations seek to increase the different income and expenditure thresholds from those currently set out in the Act. At the date of this publication, these regulations have not yet been enacted. The current requirements under the Act, along with the proposed amendments under the Regulations, are detailed in this publication.
Constitutional changes for charities
Constitutional amendments in respect of all charities must now be submitted to the Charities Regulatory Authority (CRA) for consideration and not to Revenue. Furthermore, in this correspondence, charities are advised to incorporate an amended clause into their constitutions when next amending the document, whenever that may be.