Charities with a gross income over £1million, or those with both gross assets exceeding £3.26million and gross income exceeding £250,000, require an audit. You will need a charity independent examination, once your annual income reaches £25,000 pa. This applies to charities registered solely in England & Wales. If you are a ‘cross border’ charity, registered in Scotland as well as England & Wales, there are different thresholds that apply.
These thresholds are expected to change with effect from 30 September 2026 and apply to accounting years that end on or after this date. Charities in England and Wales with gross income exceeding £1.5 million, or both gross assets exceeding £5 million and gross income exceeding £500,000 will require an audit.
There will also be an increase to the threshold for independent examination from £25,000 to £40,000 which will come into effect from 30 September 2026.
We offer intelligent and focused audit solutions for all types and sizes of charity.