15th April 2014

Directors Pay – The New Way to Pay Yourself in 2014/15

From April 2014, there is a new way to pay Limited Company Directors, but it’s not as easy as it used to be. Due to the introduction of the £2000 employment allowance, there are now several ways of getting paid. In the past it has always been recommended that directors receive a salary at just below the threshold for paying employers and employees NI. As qualifying companies can now reclaim up to £2,000 of employers NI (not applicable to employees […]
7th March 2014

Wrongful and Insolvent Trading: A Brief Guide

At the first sign of financial difficulty, the director of a business should seek financial advice. If you cannot pay the bills, the rent or any of your creditor accounts, this may be a sign that the business is failing and this should be taken seriously. If a business continues to operate with considering the financial situation, the director can be accused of wrongful or fraudulent trading. This means that they may be held personally liable for the company’s debts. To […]
16th September 2013

Directors – Increase your pay with no additional Tax or National Insurance

Good news! From April 2013, any directors can pay themselves an increased salary of £641 a month, without having to pay tax or national insurance. It will then be possible for any director to take a dividend of up to £30,382 (net cash) without paying any additional national insurance or income tax. To read more of this blog, click here