Deferring salary for charity Manager

Our startup charity wants to defer payment to its MD

Didn't find your answer?

Hi

I am the MD for a startup charity based in London. At present, I am contracting my services to the charity and am self-employed. Our charity has just begun its first project, the income from which is likely to be too low to afford me a proper wage for several months.

I wish to be able to withdraw x% of my agreed-upon wage each month to make ends meet, and defer the rest until the charity can afford to recompense me. I am happy to wait several months/years, and accept the risks.

Does anyone have any guidance as to how this can be agreed, and the legal framework for deferred wages/salaries?

Many thanks

Dan

Replies (1)

Please login or register to join the discussion.

Routemaster image
By tom123
07th Jan 2017 14:04

How many other trustees etc are involved?
Bear in mind if you are intending to award yourself salary now, but not actually pay it, you would still be taxed on it anyway.
Charities are subject to additional regulation compared to companies - together with greater disclosure, typically, to funders etc.

I would recommend appropriate paid for professional advice from someone with charity experience.

Thanks (1)