Reducing administrative burden on charities - audit income threshold from £500,000 to £1 million

Reducing administrative burden on charities

Audit income threshold to increase. Scottish charities are set to benefit from changes to legislation which will raise the audit income threshold from £500,000 to £1 million. Secondary legislation has been laid in the Scottish Parliament which, subject to approval by MSPs, will come into force on 1 January next year. That means 93% of Scotland’s 24,500 charities won’t need an audit once the new rules come into force, reducing their administrativ…

Reducing administrative burden on charities - audit income threshold from £500,000 to £1 million

Scottish charities are set to benefit from changes to legislation which will raise the audit income threshold from £500,000 to £1 million. Secondary legislation has been laid in the Scottish Parliament which, subject to approval by MSPs, will come into force on 1 January next year.