At its July sitting, Tynwald approved an Order (SD437/11) which has raised the income thresholds at which independent examination or audit of the accounts of Manx registered charities is required. The new thresholds apply for any accounts covering a period beginning on 1 August 2011; consequently any donations made by the public to a Manx charity from this time may be subject to the new regulations. Not all charities will be able to take full advantage of the new thresholds as some have their own rules or governing documents that say that their accounts must be audited - these must be followed even if the Charity’s income is below the statutory threshold. The new thresholds are as follows: • Gross income of or below ?25,000: no need for examination or audit, but the charity must prepare annual accounts and file them for public inspection at the General Registry within 6 months of the year end; • Gross income exceeds ?25,000 but below ?250,000: accounts must either be independently examined or audited and then filed as above; • Gross income exceeds ?250,000; accounts must be audited and then filed as above. The old thresholds were ?5,000 and ?100,000 respectively. Further information can be obtained from the General Registry on 687318 or by visiting their website www.gov.im/charities ENDS