The Charities Act was last amended by way of Charities Act 2011 which sets out how all charities in England and Wales are registered and regulated. The new Charities Act 2022 received Royal Asset on 24 February 2022. It aims to reduce the administration required by Charities, to save time and money. The provisions of the Act are to be implemented on a staggered basis from Autumn 2022 to 2023.
Charities Act 2022
How does this impact Charities who own property?
The Act seeks to protect charity land in support for charitable objects. This enables trustees to deal with charity land in a way which is proportionate and appropriate. There has been the removal of the requirement for trustees to advertise a property in the manner advised in the surveyor’s report, but that disposal advice is to be covered within the Surveyors report. The provision of a valuation report is designed to ensure the value of charity assets is maximised and trustees do not make unwise decisions. A charity, therefore, still needs to obtain a valuation report for any acquisition or disposal of property or lease on a property owned or occupied by the charity.
How can Vickery Holman help?
Vickery Holman have an experienced team across the region who can provide charities with valuation advice for all property types; from residential property, charity shops through to development land and industrial units. We act for several charities, both large and small, across the region including Hospiscare, Guinness Trust and Salvation Army. I am also a trustee of a local charity who provide Almshouses in Exeter, so I understand how these changes impact charities on the ground, as well as the importance of gaining professional RICS qualified surveyor advice.
To find out more about Valuation or the Charities Act, please click here.
