Pro-Taxman

Finance & Accounting>Pension

Paying family members

Regardless of the business structure (for example limited company or sole trader) it is possible to employ family members. This has some obvious advantages including matters of trust, reliance and such like, but providing employment and tax laws are adhered to, there may also be financial benefits. Firstly, it is generally permissible for a business …

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Read our quick guide to payroll for new employees covering tax codes, the new starter checklist and student loans.

Payroll – how to deal with new starters From a payroll perspective, there are various tasks that an employer has to perform when they take on a new starter. For 2019/20 an employer needs to operate PAYE where the employee earns more than £118 per week (the lower earnings limit for National Insurance purposes). However, …

Read our quick guide to payroll for new employees covering tax codes, the new starter checklist and student loans. Read More »

Have you heard of a SIPP? They can be a useful tool for investments.

Using a SIPP to save for retirement A SIPP is a self-invested personal pension which is set up by an insurance company or specialist SIPP provider. It is attractive to those who wish to manage their own investments. Contribution to a SIPP may be made by both the individual and, where appropriate, by the individual’s …

Have you heard of a SIPP? They can be a useful tool for investments. Read More »