Cryptocurrency, Blockchain and Bitcoin are all current buzz words in the business news but what do they actually mean and does this have any relevance to the charity sector? Read on to find out how this new technology could be both an opportunity and a threat for charities.
Knowing an entry-level set of jargon for any industry is important and will make you sound and appear more credible. It’s not just about knowing your numbers, it’s about knowing what they mean. Because of how the accounting industry has been glorified with all manner of qualifications and hearsay, accounting may seem inaccessible for those who have never touched it before. In reality, the figures in themselves are straightforward, it’s only the odd bits of technical language that you need to be familiar with.
The UK has recently released the first full year’s figures for the Diverted Profit Tax – ‘DPT’ - the so called ‘Google Tax’. HM Revenue and Customs – ‘HMRC’ – have suggested that the yield from the tax was £281m for the 16/17 reporting period.
Given the uncertainty over the UK economic outlook and what the result of Brexit negotiations will be in the coming year, this wasn’t necessarily a Budget where we were expecting significant changes or monumental surprises. On that basis then we were not disappointed.
Question: Can my co-founder and I ask for a salary with our first Seed investment? We have our SEIS approval and we want to get the full £150,000 to keep the company running as long as possible, but we also need salaries to live (or we will have to move back to our parents and not be together each day). Will we be expected to not take a salary? Or should we add the salaries on top of what we need to start the company?