The optimum directors salary 2026/27 is £12,570 per annum, which equates to £1,047 per month or £241 per week. This is the most tax efficient amount for the majority of directors to pay themselves. Owner managed businesses can typically decide […]
Tax code 1257L is the most common code in the tax year 2026/27 for those with only one job. How much tax is payable with a 1257L tax code? In the Spring Statement 2025 it was confirmed that the personal
Tax Code 1257L – How to Check Your Tax Code is Correct? Read More »
The National Minimum Wage for an individual aged 21 years and over will be £12.71 per hour. See all hourly minimum rates from April 2026 below. It is important to ensure that employees are paid the minimum wage. The hourly
National Minimum Wage – The new rates from April 2026 Read More »
In the recent UK Halloween Budget, significant increases to Employer’s National Insurance (NI) contributions were announced, impacting businesses of all sizes. From April 2025, the employer’s National Insurance rate will increase from 13.8% to 15.0%, and the contribution threshold will
Impact of the Employers National Insurance Increase: What Businesses Need to Know? Read More »
A UK tax code informs your employer how much tax to deduct. We explain what each of the different numbers and letters actually mean. Each year HMRC will issue you with a different code for each income source (job and
The tax code BR stands for Basic Rate. Your income will be taxed at 20%, which will affect your pay. How to correct your BR tax code? Tax code BR is one of the most popular tax codes but very
The tax code D1 means that the income from your job or pension will be taxed at the 45% tax rate. This is the additional rate tax band. Income over £150,000 is taxed at the additional rate in the current
The tax code D0 means you will pay tax at 40% on your income. This is the higher rate tax band. How does a D0 tax code affect your pay? We explain how much tax you will pay with a
A tax code 0T means that you have no personal allowance. You could be paying too much tax. Why you have a 0T tax code and how to correct it. We explain why you have received a 0T tax code?
Employers can claim a one-off payment of £1,000 per eligible employee. This is known as the job retention bonus. UPDATE: Following the extension of the Furlough Scheme from November 2020 to March 2021 this bonus has been postponed. It has