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Search results: 3 article(s) found in topic: Wages/salaries - keyword: Directors

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Directors - how to turn a salary trap into a tax advantage

If you need a little extra cash you might be tempted to take some additional cash from your company’s bank account. HMRC might argue that the money should be subject to tax and NI as salary. How can you counter this? More...


When are tax and NI payable on a director’s bonus?

Your company did well in its first year of trading and so you decided to vote yourself a bonus. The second year was less successful, and there’s now not enough cash to pay the bonus, but will HMRC still expect the PAYE tax and NI? More...


Can you reduce your salary?

You currently take a large salary from your company but (for tax reasons) are considering only taking a tax and NI-free salary of £5,225 next year. Will this drop in salary trigger an enquiry from the Taxman? More...
Last updated: 01.04.2020

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