Running a UK registered charity
Below is a summary of what is involved in running a registered charity:-
- a charity can only act to further its declared aims
- those in charge are termed "trustees" and there is usually at least 3
- as a general rule trusteeship is voluntary without pay or benefit
- a trustee must be capable of performing their duties
- a trustee is responsible for the affiars of the charity
- charities may not trade but may have a trading subsiduary
- accounts and an annual return must be prepared and filed once a year
- charities may invest their funds subject to certain criteria
- details of the charity are available for public inspection
- charities are not taxed on any surplus income
- donations received may be eligible for gift aid from HM Revenue