ICAEW has expressed a formal interest to the Cabinet Office in participating in the review of the Charities Act 2006 which is being led by Lord Hodgson. Based on the terms of reference for the review, ICAEW has identified 9 major areas on which we would like to make representations to Lord Hodgson:
1. Definition of charity and public benefit requirements, taking into account decisions by the Upper Tribunal on fee paying schools.
2. Reduction in regulation for UK cross-border charities, including Calman Commission’s recommendations for a UK-wide definition of charity.
3. Measures to reduce bureaucracy on charities, including responsibilities and obligations of trustees.
4. Measures to facilitate social investment or ‘mixed purpose’ investment by charities, taking into account the Charity Commissions’ revised guidance on investment for charities (CC14).
5. The operation of the charity merger provisions of the 2006 Act.
6. The law and regulation relating to exempt charities, including the ‘principal regulator’ approach.
7. Charity accounting, reporting and auditing, including reporting requirements relating to licensing of public charitable collections.
8. Registration thresholds for charities.
9. Methods of supporting and encouraging individuals to volunteer as trustees, including concerns about trustee liability.
In terms of timings, the terms of reference has committed Lord Hodgson to report to the Minister for the Cabinet Office before the summer recess (17 July 2012).
We would be interested in hearing your views. Please include your comments below or send me an email at anne.davis@icaew.com Thank you.