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Charity audit threshold to rise to £1 million

The government has made available its response to the consultation on charity and independent examination thresholds on 19 February 2015.

The charity audit threshold will increase to £1m of income from the current £500,000. The same threshold will apply for charity groups.

The asset thresholds will remain unchanged as will the thresholds for independent examinations.

These new limits will be effective for accounting periods ending on or after 31 March 2015, subject to parliamentary approval.

If you have any questions about the thresholds please contact our charities manager Paul Burrows or the charities partner Jonathan Mashen.