In April 2020 there will be IR35 changes for the private sector. As a result a large number of contractors will be affected. Why are the IR35 Changes for the private sector happening? Despite HMRC’s best efforts and many changes […]
The National Minimum Wage 2019 will increase to £8.21 per hour for adults aged 25 and over. Different rates apply to those aged under 25. National Minimum Wage 2019 rates The rate increases are as follows: workers aged 25 and […]
The auto enrolment pension increase 2019 will typically mean employees pay 5% and employers pay 3% into the pension scheme. When auto enrolment was first announced back in 2012 a phasing of contributions was setup. The phasing was set up […]
The optimum directors salary 2019/20 will be £8,632 per annum which equates to £719 a month or £166 a week. This is the most tax efficient amount for the majority of directors to pay themselves. Owner managed businesses can typically […]
When do you need to register as an employer? When is registration not required? We will explain the steps you need to follow to register as an employer. The failure to register can incur significant penalties so follow this guide […]
Tax code BR is one of the most popular tax codes but very few people seem to know what it is? We explain how tax code BR affects your take home pay? Why you might have a tax code BR? […]
The UK national minimum wage changes every April. From the 1st April 2018 the new hourly wage is up to £7.83 but this varies depending on age. The maximum fine for non-compliance is £20k per worker so it is important […]
The new tax year begins on 6th April 2018 and therefore this means new PAYE tax codes. The most common will be tax code 1185L. Every year millions of codes are incorrect so you must check your tax code or […]
Directors can save £1,600 in corporation tax by paying a tax efficient directors salary. The optimum salary incurs no additional personal income tax or national insurance. Every year the tax allowances change. So every year the optimum directors salary changes […]
The minimum contributions which employees and employers must pay in pension contributions is due to increase. Failure to comply can incur penalties of up to £10,000 per a day. The pension changes are applicable from April 2018. Most businesses with […]