Knowledge Hub

Charities should diversify their income sources to ensure that they are financially stable and resilient amid today's economic challenges. Allan Hickie from UHY discusses how your charity can approach income diversification in a number of ways.

The cost of living crisis continues to challenge organisations of every size. Stephen T Dean from Grant Thornton UK takes a look at the pressures charities are facing in 2024 and what they are doing to manage them.

Rachel Titchen, Charities and Investment Director at consultancy Broadstone, calls for a more flexible and adaptive approach to charity investing.

England's charity sector regulator has published updated guidance about financial difficulties to support trustees in their decision making.

The new defined benefit pension scheme funding regime will soon be effective. Pension advisory firm, LCP, explains how the changes will affect charities and what charities will need to do next.

Sharon Martin, Chief Financial Officer at Born Free, shares her story of an attempt to defraud the charity of funds, highlighting the importance of rigorous internal controls. 

The Fundraising Regulator's long-anticipated fully redrafted Fundraising Code is now out for consultation. Charities and others are invited to view the new code, comment and join in the conversation.

Charities and other interested parties are working together to develop the Charity Investment Governance Principles (CIGP), following a consultation that will inform best practice in decision-making around charity investments.

Tracey Moore from UHY emphasises the importance of going concern information for charities. She explains how budgets and cashflow forecasts can be used as management tools beyond audit purposes. By regularly updating and analysing this information, charities can make informed decisions, improve financial planning, and strengthen their relationships with grant providers.

BHP's Carla Horsfall explains how charities can save money on VAT for fundraising events by understanding the exemption rules. She outlines the key conditions for exemption and provides examples of events that qualify. The key takeaway for charities is to stay informed, plan ahead, and consider if the exemption benefits them before applying.

HMRC figures show that tax relief for charities and their donors increased by 3% to just over £6bn in the last tax year. Read more about the impact of tax relief, and remember Gift Aid Awareness Day is coming up soon on Thursday, 3 October.

As you will have noticed, the CFG (remote) office closed at the end of July as we paused for our summer wellbeing week. It was a time for staff to take a well earned break and spend some time recharging their batteries.