12 July 2021
The legislation added to the Finance Act 2020 uses the tax system to recover unfair or incorrectly requested income support payments – i.e., Payments required under the Coronavirus Retention Scheme (CJRS) and the Self-Employment Income Support Scheme (SEISS). This includes situations where the employer has not paid all government funds…
It is common practice that directors take a small salary and supplement their earnings with dividends, in order to keep the take-home pay as much as possible while adhering to HMRC (all dividends you draw will be taxed as personal income). Above the tax-free limit of £2,000, the following tax…
18 June 2021
We all know how much annual leave is important in order to keep your employees happy and well-rested. We also know that the previous year was nothing but the ultimate test for key employees who’ve stayed in the front lines to keep everything running. Due to the COVID-19 pandemic, key…
The earnings period for a director is an annual one and National insurance contributions are normally calculated by reference to earnings paid only in that particular earnings period. National Insurance on director’s salary is paid over to HMRC by the company like other employees (as part of the PAYE Process).…
15 June 2021
The Pension Regulator (TPR) has published a new three-year plan, as well as detailed agenda information it takes from pension insurance, anti-fraud, dashboards and dealing with the changing nature of defined contribution pension insurance. The plan is explained through five categories, with a detailed explanation of what will be done…
