For some time now, HMRC have had the power to claw back some or all of the Child Benefits you receive if either parent’s income exceeds £50,000. The benefit is recovered by the High Income Child Benefit Charge (HICBC). This states that if either parent…
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Data Protection obligations
Everyone in business that handles personal data must register for data protection purposes with the Information Commissioners Office. Most business will need to pay an annual fee of £40 or £60 but this can rise to £2,900. Some organisations only pay £40 regardless of their…
A new government-backed loan scheme
A new Recovery Loan Scheme was launched 6 April 2021, to provide much needed liquidity to businesses affected by COVID lockdown measures. Under the scheme, loans of up to £10m are available. The minimum facility sizes vary, starting at £1,000 for asset and invoice finance,…
Charity - using a subsidiary trading company
One or more charities can set up a subsidiary trading company to trade on their behalf. This may be a useful strategy if your charity: makes profits on trading that is not linked to its primary purpose makes a profit that comes close to or…