Finance and Accounting
NIC and company directors
Special rules apply to company directors when it comes to calculating their Class 1 National Insurance liabilities. Why the rules Directors, particularly of personal and
July 23, 2021
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
October 7, 2020
Maintaining your NIC contributions record during Covid-19
The Covid-19 pandemic has meant that many people will suffer a reduction in income in 2020/21. Not all individuals are eligible for support under the
August 25, 2020
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
August 19, 2020
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
September 28, 2019
PAYE settlement agreements
A PAYE Settlement Agreement (PSA) enables the employer to pay the tax and National Insurance instead of the employee on those benefits and expenses included
May 11, 2019
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.
May 11, 2019
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
May 11, 2019
Is tax payable on tips?
The question of whether tips and gratuities are taxable and subject to National Insurance Contributions (NICs) often results in a lively debate. Broadly, their treatment
May 1, 2019
Directors’ NICs – the correct way to pay
The non-cumulative nature for calculating National Insurance Contributions (NICs) makes it possible to manipulate earnings to reduce the overall amount payable by taking advantage of
May 1, 2019