Haverhill charity faces £18k bill due to National Insurance rise
A local charity in Haverhill, Suffolk is facing financial strain as changes to National Insurance contributions are set to take effect. Reach Community Projects, known for its foodbank operations and other community support services, is bracing itself for an £18,000 increase in its bills next month. This additional cost comes as a result of Chancellor Rachel Reeves’ decision to raise the National Insurance rate for employers in order to bolster funding for public services, including the NHS.
Katie Chappell, Head of fundraising at Reach, expressed her shock at the announcement, as charities had hoped to be exempt from the increase. She highlighted the difficulties that charities are currently facing, stating, “It’s tough anyway being a charity right now, we are grateful for every single penny we get, but it is hard to get every single penny – it’s going to be tough on us.”
In addition to operating a foodbank, Reach also provides free financial advice in schools, homelessness support, and cookery classes for affordable, healthy meals. Chappell voiced concerns that the extra financial burden could hinder the charity’s ability to expand and jeopardize its operations. She emphasized the crucial role that Reach plays in supporting vulnerable individuals in the community, stating, “There are a lot of people out there who would just be finding life incredibly tough without our help.”
Reeves’ changes include raising the NI rate paid by employers to 15%, a 1.2% increase, and lowering the threshold at which businesses are required to pay to £5,000, down from £9,100. While an increase in the employment allowance was also announced to provide relief of up to £10,500 a year, Conservative county councillor for Haverhill, Joe Mason, acknowledged that many charities would still be negatively impacted. He emphasized the importance of supporting charities in their invaluable work and ensuring that they are not faced with additional challenges in carrying out their services.
Local businesses are also expected to feel the strain of the higher NI rates, with concerns raised about the broader economic impact. The Treasury has been approached for comment on the matter, but the looming financial burden on charities like Reach Community Projects underscores the challenges facing the sector in light of the upcoming changes to National Insurance contributions. The world of technology is constantly evolving, with new advancements being made every day. One of the most exciting developments in recent years is the rise of artificial intelligence (AI). AI has the potential to revolutionize almost every aspect of our lives, from healthcare to transportation to entertainment.
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