02nd March 2018
Author: Anna Bowes
There are more than 167,000 registered charities in England and Wales and collectively they generated more than £75 billion of revenue in the 2016/17 tax year. With rates as high as 2.50% for charities that don’t need access to their funds for some time, you’d think that cash deposits would be a good source of income for the charity sector.Alas, this is not the case.