What is Relevant life insurance? Companies who are big enough and meet eligibility criteria, can use a registered group scheme to pay for their employees’ life cover. Though these group schemes are tax-efficient for its members, directors of smaller businesses were...
Our fellow WIS Director, Suneth Silva has kindly put this video together to explain how the payment of annual Self-Assessment taxes can be better planned via the use of Premium Bonds. A quick recap of why Premium Bonds: ➡️ Anyone can buy them...
A day rate contractor is a hybrid between employed and self-employed. Most work off payroll for a client who is similar to an employer. Contractors work on one contract at a time and are, therefore, different from being self-employed, where people may work with many...
The new financial year started on 6th April 2020. One of the main questions that arise during this time of the year is “what is the optimal salary for a sole director company?’. We have provided a few bits of guidance below. For tax year 2020/21, personal allowance...
Financial year for 2019/20 began on 6th April 2019. Here is a quick refresher of changes you need to be aware of. Personal Allowance Personal allowance (the annual amount you can earn before paying tax) for this financial year – rises from £11,850 to £12,500. If...
The cost of childcare in the UK has increased significantly compared to rest of the world. A recent research sugests many parents in UK are now spending more on childcare than their mortgage. Government recently stopped “Childcare voucher” via salary...
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