Of interest to those involved in charity governance.
This guidance has been produced jointly by Bates Wells and The Chartered Governance Institute UK & Ireland.
Introduction
Following on from the COVID-19 pandemic, the ongoing cost of living crisis presents an existential threat to many charities and social enterprises as a consequence of increased costs such as energy and salaries. Reduced disposable incomes resulting from the crisis has also led to reduced donations from the general public, whilst increasing demand from those seeking help and support during these difficult times.
Purpose of this guidance
This guidance offers practical suggestions and some legal reflections on existing UK company and insolvency laws and associated regulation. Organisations will need to consider their own individual circumstances and options, including their finances and the support available and seek bespoke legal and insolvency practitioner advice where needed.
Insolvency is a complex situation and professional advice and guidance should be sought at the earliest opportunity.
This document includes:
- Consider your current financial situation
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Responding proactively to today’s crises
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How can the changes to insolvency law in the Corporate Insolvency and Governance Act 2020 - introduced during the COVID-19 pandemic - help with today’s financial challenges for charities and social enterprises?
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Related resources
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