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