14th January 2021 Posted by - Alexander Accountancy
The Information Commissioner’s Office (ICO) is the independent regulatory office in charge of upholding information rights in the interest of the public. Under the Data Protection Act 2018, all organisations that process personal information must register with the ICO.
By law, every organisation or sole trader who processes personal information needs to pay a data protection fee to the ICO, unless they benefit from a very limited exemption. There are currently more than half a million fee payers
The cost of the data protection fee depends on the size and turnover of the business/organisation. There are three tiers of fee ranging from £40 to £2,900, but for most businesses/organisations it will be either £40 or £60. Some organisations only pay £40 regardless of their size and turnover. These are charities and small occupational pension schemes.
Payment can be made by direct debit, credit or debit card, cheque or BACS. The ICO sends an email reminder six weeks before the annual fee expires.
