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What should we consider before offering a salary advance? (Anonymous post 🤫)
Ocean King Staff Senior Community Executive at CharityConnect Posted 2 months ago
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This question is from a member of our community that wishes to remain anonymous:
Our board has been asked by our founding staff member for an advance on their salary. We suspect this should be in the form of an employee loan.Â
The funds are available due to grants secured, but what other implications should we consider, beyond the interest rate (which would be the HMRC rate)? Are there particular legal, compliance and/or reputational concerns?
Thanks in advance.
Thanks in advance.
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