zlacker

>>buro9+(OP)
I don't understand this decision. Running a website as an individual is a liability risk for all sorts of reasons for which there are simple (and cheap) mitigations. Even if you believe this legislation is a risk, there are options other than shutting down. The overreaction here is no different than when GDPR came in, and we all collectively lost our minds and started shutting things down and then discovered there was zero consequence for mom-and-pop websites. I assume this isn't a genuine post and is actually an attempt at some sort of protest, with no intention of actually shutting down the websites. Or, more likely, they're just old and tired and ready to move on from this period of their life, running these websites.

>>_fjg8+Ha
What are the simple and cheap mitigations you have in mind?

>>baggy_+qb
Don't run a website personally, set up a separate legal entity. The UK is one of the easiest places in the world to do this and has well-understood legal entities that fit the model of a community-operated organisation (i.e: "community interest company"). The fact that the OP is running such a large community as an individual is bonkers in the first place, independent of this new act.

>>aimazo+Ic
Are you claiming that setting up a CIC removes individual liability for wrongdoing? So, I set up a CIC for running forums, with $0 of assets and negligible running costs, then in the event of a fine I'm scot free?

>>tempfi+og
Assuming you regard the cost of keeping and filing accounts and other paperwork, annual registration fees, etc. as negligible yes.

>>graeme+Ll
Keeping accounts: cost, depends on if you make any money. If you do then you would have to keep accounts even if not a CIC!

Filing accounts: £15. An online form will ask you for your balance sheet summary only unless you are very large.

One off registration:£65

Annual confirmation statement:£34

So depends on your perspective I suppose.

>>jimnot+dV
There are plans to remove the small company p & l exemption and new rules on verifying directors ids. Costs are going up too. It looks like a CIC you can only file online if full accounts. https://find-and-update.company-information.service.gov.uk/a...

You have to keep accounts if a business even if not incorporated. A company has to keep accounts if it has any assets (e.g. a domain) or any financial transactions (e.g. paying for hosting)

You will also probably have to file a tax return. You have to keep a register of shareholders.

In fact if definitely not making a profit a standard ltd might be simpler (or maybe a company limited by guarantee) then a CIC as all a CIC does it add restrictions and extra regulation https://assets.publishing.service.gov.uk/media/5a7b800640f0b...

>>graeme+RY
>You have to keep accounts if a business even if not incorporated

Indeed, so this cost is not relevant to the decision to set up a CIC or not

>>jimnot+JZ
It is relevant this case. The thread is about moving an activity that is not a business to a company (and for some reason a CIC in particular). If you did it in your own name you would not have to keep accounts.

>>graeme+EO1
As jimnotgym explained, you don't have to 'keep accounts' in any onerous sense. You just need to keep a rough track of the business's income and expenses (which any sensible person would be doing anyway). No-one at HMRC is going through the accounts of very small businesses with a fine tooth comb. You just tell them how much money you made and pay the taxes on it.

>>foldr+o62
> You just need to keep a rough track of the business's income and expenses (which any sensible person would be doing anyway

We are not talking about a business here. The whole problem is that these are things that people are doing as essentially voluntary work.

What your saying would be true in a different context, but this is not business. I do not know whether you find it hard to grasp that some people will put a lot of effort into something for motives other than profit.

>>graeme+J92
Right, so the 'accounts' are correspondingly simple. Essentially just a list of things the company has purchased.