Posted by Simon Misiewicz on 2nd April 2013
Do you trade through a limited company?
Would you like to ensure that you pay yourself whilst paying the minimum amount of tax?
There are many business owners that are paying more tax than they need to.That is because they are paying themselves a decent wage from their limited company.
That is fine but you can pay yourself the same amount of money through wages and distribution of shares.
The new employment allowance will reduce the secondary Class 1 NI contributions, meaning that directors and shareholders will be more tax efficient if they are paid a salary to the personal tax-free allowance of £10,000.
The next step is to change your payroll systems.
Are you ready for Real Time Information the new HMRC requirements being enforced in October 2013? If you would like to discuss this in more details then please contact Simon as soon as possible.
For more information please contact us on 0115 946 1991 or Click Here To Email