The Charity Commission said that professional bodies could be charitable if they were established for a charitable purpose for the public benefit, as opposed to promoting private interests, which acevo has been deemed to be doing.

Acevo’s chief executive Stephen Bubb said: “Chief Executives have a key role to play in setting and maintaining a high standard of leadership and professionalism, and in promoting a modern, enterprising third sector… We will continue to develop and represent our members to maximise their contribution to the wider third sector and for public benefit.”