The key changes and the interesting few are:
- Letting out investment property to another entity in the group, a separate accounting policy for this is up for discussion.
- Introduction of a requirement for a net debt reconciliation. Cannot think why they would want to include this but who are we to question?!
- Payments by subsidiaries to their parent charity which qualifies for Gift Aid; the accounting treatment of these payments is up for consultation.
The consultation closes on 4 April 2018 and the changes will come into effect for accounting periods beginning on or after 1 January 2019.
For more advice on how the Charities SORP changes could affect your organisation, contact our partner Suda Ratnam on 020 8551 7200 or suda.ratnam@raffingers.co.uk.
You can also send us an email on our dedicated helpline - charity-help@raffingers.co.uk. Whether it's about legislation, branding or GDPR we're here to help.
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