In our latest Spring Charity Newsletter, we offer a comprehensive update on various issues impacting the not-for-profit sector in the UK, highlighted by new regulatory guidance, legislative changes, and pressing sector challenges.
Here are some of the hot topics covered in the newsletter:
- An Open Letter to UK Banks - In November 2023, UK charity regulators wrote an open letter to banks to urge them to improve services for charities, specifically by easing the process for opening bank accounts and training bank staff to understand charity operations better.
- Impact of Artificial Intelligence (AI) - Adopting technology may be challenging for many small charities given AI's potential risks and benefits. However, the consensus of the speakers at the Charity Conference held by the ICAEW in January was that AI will eventually be as prevalent in our work as Excel has been.
- Spring Budget 2024 - Although the budget may not have directly mentioned charities, there were some measures which will impact charities and their beneficiaries, which are listed in detail in the newsletter.
- Sector-wide Financial and Legislative Updates – We discuss the recent developments in charity accounting standards, government budget implications for charities, and the potential effects of new digital market regulations on charity operations.
You can download the full newsletter below.
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How can we help?
If you need guidance or assistance on any charity issues mentioned in our charity newsletter, please get in touch with our Partner, Lee Facey (leefacey@lubbockfine.co.uk) or Director, Hazra Patel (hazrapatel@lubbockfine.co.uk).
