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…

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Job retention bonus when Coronavirus Job Retention Scheme (CJRS) comes to an end

Bonus for retaining staff when CJRS comes to an end The Coronavirus Job Retention Scheme (CJRS) has provided a lifeline to millions of employees and their employers during the Covid-19…

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Wondering whether to use dividends or a salary? Read this blog to find out why dividends are more cost-effective.

Director’s salary or bonus? Given current tax rates, paying a dividend rather than a salary will often be a more cost-effective way of withdrawing profits from a company. Tax is…

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Voluntary National Insurance contributions – should you pay?

The payment of National Insurance contributions provides the mechanism by which an individual builds up their entitlement to the state pension and certain contributory benefits. Different classes of contribution provide…

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Family companies – optimal salary for 2019/20

For personal and family companies it can be beneficial to extract some profits in the form of a salary. Where the individual does not have the 35 qualifying years necessary…

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