This petition was submitted during the 2017-2019 parliament
Petition Increase limit for when charities must have an independent review of accounts
I am involved with a charity which makes approximately £25-£30k per year, meaning we must have an independent review. This cost us £2500 this year, which seems a disproportionately high percentage of our income. Increasing the limit to £50k could help charities give more to the causes we support.
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According to gov.uk, there were approximately 58 thousand charities in the UK with income between £10k and £100k. If we assume that these are evenly distributed across the range, around 16000 charities would benefit. If their costs are similar to ours, that would be an extra £45k going to good cause each year. While transparency is important, people give to small charities assuming the money goes to the cause they promote and 10% going to an auditor does not serve their expectations well.
This petition is closed This petition ran for 6 months
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