SHOULD DIRECTOR/SHAREHOLDERS #TAX ADVANTAGE OF THIS LOWER RATE?
The HMRC rate of interest on beneficial loans looks very attractive compared to the Bank of England Base rate of 4.5% and much higher rates charged by banks for unsecured loans.
You don’t have to pay overtime providing you check that you will still be paying the employee at least the hourly national living or minimum wage rate when those extra hours are factored in. To avoid confusion, if employees have to work additional hours to get their job done ensure that their employment contracts specify whether those additional hours are paid and at what rate.
A large number of people have been underpaid their state pension. Payment of what’s owing is underway but if you receive such a payment, it may give rise to an income tax bill. What’s the issue?
There’s less than a month to renew tax credit claims for the year ahead. Why is more care needed this time round?
The pandemic has accelerated a tech-driven industrial revolution.