Circuit treasurers, please may we remind you that the annual contribution from Circuit Model Trust Funds to District Advance Funds will be taken on the 1st September 2017. Therefore please ensure there are sufficient funds available in the Trustees Interest Fund (TIF) to pay the levy and meet any other commitments. The bands as per Standing Order 955(6) are as follows:
- 2.5% up to £100,000 or the first £100,000
- 5% on any excess over £100,000 but not exceeding £250,000
- 7.5% on any excess over £250,000
If you need to sell Central Finance Board (CFB) investments to pay this levy, please let TMCP Finance have written instructions signed by two Managing Trustees. The last dealing date for this would be 21st August 2017 and we would need to receive instructions by 20th August at the latest.