The government said today that it will go ahead with plans to double the audit threshold for most charities from £500,000 to £1m, making up to 4,000 charities exempt from audit requirements.

The decision follows a consultation that ran for seven weeks from December to January 2015.

Today's consultation response confirmed that “the significant majority of consultation respondents appreciated the effect the proposals would have in decreasing the regulatory burden on charities.”

In particular, “charities and their representatives tended strongly to support the majority of proposals,” it said.

The consultation followed a recommendation by Lord Hodgson of Astley Abbotts in his review of the Charities Act 2006.

The threshold for audit for charities with assets of more than £3.26m will also change. These charities will now be subject to audit if their income is more than £500,000.

The government received 56 responses to the consultation from a “broad range” of individuals and organisations, including charities, accountancy professionals and umbrella bodies.

The government said changes will come into effect on 31 March, 2015.

"A statutory instrument will be drafted and laid in Parliament with sufficient time before dissolution on 30 March 2015," the report said. "The changes should come into effect on 31 March, 2015.”