At present, the Charity Commission for Northern Ireland does not require charities to submit annual returns or accounts. This is because registration of charities has not commenced.
The Charities Act (NI) 2008 provides the general income thresholds for the types of accounts which will be required once registration commences. These income thresholds are:
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Gross annual income
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Requirements
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£100,000 or less
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- Receipts and payments accounts, and
- A statement of assets and liabilities,
- signed by an independent person
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£100,001 to £500,000
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Accrued accounts,
signed by an independent examiner
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Above £500,000
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Audited accounts
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The Department for Social Development will make accounting regulations before registration commences which will give charities more detailed information as to the form and content of their accounts, and the type of accounting practices to be followed.
The first accounts charities will have to submit to the Commission will be for the first full financial year after the charity has been registered. Charities will have ten months after the end of that financial year to send us their accounts.
Please note that if your charity is a company, you must still comply with Company House accounts requirements.
In the interim, here are some links to information on other websites which set out some best practice guidelines on charity accounting:
Charity Commission for England and Wales,
Northern Ireland Council for Voluntary and Community Action and
Association of Chartered Certified Accountants (ACCA) – the global body for professional accountants.
ACCA, in conjunction with the Charity Commission for England and Wales has produced a useful podcast on charity accounting.
Access the podcast.
