Explanatory note

These Regulations amend provisions in the Charities Act 2011 relating to charities’ accounts by substituting the sum specified in the Regulations.

The effect of regulations 2 and 3 is to increase the gross income threshold which applies for the purpose of determining whether group accounts must be prepared.

The effect of regulations 4 and 5 is to increase the gross income threshold which applies for the purpose of determining whether group accounts must be audited.

Regulation 6 makes transitional provision.

A full impact assessment of the effect that these Regulations will have on the costs of business and the voluntary sector is available from the Office for Civil Society, 1 Horse Guards Road, London. SW1A 2HQ (020 7271 6282) and is annexed to the Explanatory Memorandum which is available alongside the Regulations on www.legislation.gov.uk.