The Charity Commission has recently issued a warning about fraudulent letters being sent to charities and their trustees, impersonating the Commission to deceive recipients.

These deceptive communications often request actions such as:

• Removing a trustee or chief executive from their position.
• Releasing funds as part of a supposed grant.
• Supplying sensitive documents like passports or utility bills.

The letters may be signed as coming from ‘the Commission,’ it’s Chief Executive Officer, or its Directors.

To help identify genuine correspondence from the Charity Commission, consider the following guidelines:

• Mode of Communication: The Commission will only send letters by post if they do not have your current email address. It’s advisable to check and update your contact details to ensure accurate communication.
• Addressing: Authentic letters are rarely addressed generically (e.g., ‘to whom it may concern’).
• Certification Requests: The Commission does not issue letters or emails of certification on behalf of UK charities regarding tax exemption or other matters.
• Personal Information: They will not ask you to authenticate an account online by supplying personal identity documents or banking information.

When receiving letters by post from the Charity Commission, note that they will:

• Be franked, not stamped.
• Typically include a case number or reference.
• Unlikely be marked as ‘Strictly Private and Confidential’.
• Come from the Charity Commission of ‘England and Wales’, not the ‘UK’ or ‘England’.

Serious allegations against individuals are unlikely to be detailed in a letter, nor would individuals be named without clear evidence of wrongdoing. Matters related to casework or investigations would usually come from a specific caseworker or team at the Commission.

If you receive suspicious correspondence, verify its authenticity by contacting the Charity Commission directly. Reporting such incidents to Action Fraud helps in monitoring and addressing these fraudulent activities.

By staying vigilant and informed, charities can protect themselves from potential fraud and continue their vital work without disruption.

What to Expect

As we move further into 2025, the direction of UK interest rates remains a key focus for businesses, homeowners, and investors alike. The Bank of England (BoE) has already adjusted rates, and speculation is rife about what comes next.

Current State of Interest Rates

The BoE recently reduced the base interest rate from 4.75% to 4.5%, marking the third cut in six months. This move reflects the central bank’s efforts to support economic growth while balancing inflationary pressures.

Economic Growth and Inflation

Economic growth forecasts for the UK have improved, with estimates suggesting a 1.5% expansion in 2025. This growth is partly driven by increased public spending and fiscal stimulus. However, inflation remains a concern, with projections indicating a rise to around 3.7% later in the year due to higher energy costs and regulated prices.

Diverging Opinions on Rate Cuts

Economists remain divided on how far interest rates will fall. Some analysts predict that the BoE will cut rates at least four more times in 2025, potentially bringing the base rate down to 3.75%. Others argue that the scope for further reductions is limited, with expectations that rates will only fall to around 4% by year-end. This more conservative view stems from fears that inflationary pressures will persist, making aggressive rate cuts unlikely.

Global Influences and Fiscal Policy Considerations

UK interest rate decisions are not made in isolation. Government spending, taxation policies, and borrowing levels will all impact how much room the BoE has to manoeuvre. A boost in public spending could stimulate growth but may also contribute to inflation, which could make further rate cuts less feasible. Additionally, global economic conditions, trade tensions, and financial market trends will influence the central bank’s policy stance.

Market Expectations

At the start of 2024, financial markets had expected a series of BoE rate cuts throughout the year. However, fewer cuts than anticipated materialised, leading analysts to reassess their outlook. As of early 2025, markets are pricing in one more cut, with some speculation over a second. This suggests that rate reductions may be more gradual than previously expected.

Conclusion

Looking ahead, any