Author: Samantha Nicholson

Covid-19 – Support for Businesses and Self-Employed more detail

Posted on by Samantha Nicholson

This post was last updated on 23 March 2020. The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19. This includes a package of measures to support businesses including: a Coronavirus Job Retention Scheme deferring VAT and Income Read more about Covid-19 – Support for Businesses and Self-Employed more detail[…]

Covid-19 – Support for Businesses and Self-Employed

Posted on by Samantha Nicholson

The situation for Covid-19 is changing quickly, this information will help keep you up to date with current government advice and guidance, helping you quickly get to the facts. The information below was last updated on 20 March 2020. The Chancellor has set out a package of temporary, timely and targeted measures to support public services, Read more about Covid-19 – Support for Businesses and Self-Employed[…]

As a director, what should I pay myself in 2020/21?

Posted on by Samantha Nicholson

Such a simply question, you would think, however it produces a complicated answer. For this calculation, we have assumed the following: The director wants to preserves their entitlement to state benefits, and The director wants a salary which saves the most tax and national insurance. First of all let us look at preserving your entitlement Read more about As a director, what should I pay myself in 2020/21?[…]

National Minimum Wage and Live In Wage rates from April 2020

Posted on by Samantha Nicholson

The National Live in wage and the National Minimum Wages is set to rise in April 2020. Rates per hour depend on your age and whether you’re an apprentice – you must be at least school leaving age to get it. New rates, which come into effect from April 2020: Year 25 and over 21 Read more about National Minimum Wage and Live In Wage rates from April 2020[…]

Are you an EU, EEA or Swiss citizen living and or working in the UK?

Posted on by Samantha Nicholson

If you want to continue living and working in the UK after 31 December 2020 you will need to apply to the EU settlement scheme (EUSS), even if the UK leave with a deal or with no deal. Under the scheme, successful applications will be granted either settled or pre-settled status. Which status you get Read more about Are you an EU, EEA or Swiss citizen living and or working in the UK?[…]

Closing a company- How best to extract profits from your company

Posted on by Samantha Nicholson

If your company makes a profit it can pay this to its shareholders as and when it wants. These are known as ‘distributions’ in company and tax law, the most common form of distribution is dividends. Dividends is normally taxed as income for individuals, but an exception to this rule is where distributions are made Read more about Closing a company- How best to extract profits from your company[…]

Director’s – Salary, Dividends or perks?

Posted on by Samantha Nicholson

Choosing tax and national insurance efficient types of income to draw from your company can make a big difference to its worth to you.   The Options Salary – As a rule of thumb, salary within of the national insurance threshold (£8,164 for 2017/18) is the most efficient option Dividends – This option became less Read more about Director’s – Salary, Dividends or perks?[…]

As a director, what should I pay myself in 2019/20?

Posted on by Samantha Nicholson

Such a simply question, you would think, however it produces a complicated answer. For this calculation, we have assumed the following: The director wants to preserves their entitlement to state benefits, and The director wants a salary which saves the most tax and national insurance. First of all let us look at preserving your entitlement Read more about As a director, what should I pay myself in 2019/20?[…]