For several years, dividends have proven to be a tax effective way for owner/shareholders to extract profits from their company. Whilst salary and bonuses are tax-deductible for the company, and will currently save 20% corporation tax, this saving does not fully offset the substantial costs of National Insurance contributions (NIC) which accrue when making payments through the PAYE system.
Tag: Bookkeeper
Auto Enrolment – An Overview
Many readers may be surprised to learn that auto enrolment has been in operation for large employers (250+) since 2012. The auto enrolment process will continue up to the final staging dates in 2017, but despite recent TV advertising campaigns from the Pensions Regulator featuring the larger than life character ‘Workie’, it seems some employers are still unsure or in some cases unaware of how this fundamental change may affect them and their employees.
Targets, Focus and Clarity
I can’t stress enough how important it is to hit the ground running in January and make sure you’re already on target for your goals and objectives. It’s far easier to hit your targets when each month’s results are in line with your projections.