Securing Entitlement to a State Pension ‘Credit’ without actually paying any NIC. Entrepreneurs that trade through a limited company can set how and how much they are remunerated. It is possible to avoid paying any NIC, yet still obtain a ‘credit’ for that particular tax year for future state pension purposes, by paying a salary of between…
Businesses and individuals with spare cash balances can maximise the interest earned on these sums by instructing their bankers to perform automatic overnight sweeping transfers between their current and deposit accounts. High street banks have traditionally offered low or even nil rates of interest on current accounts. It has therefore always been a fundamental cash…
The National Minimum Wage legislation was introduced with effect from 1st April 1999. Since then employers have been required to pay staff at an hourly rate of at least the national minimum wage. These rules are formulated by the low pay commission and are policed by HMRC. HMRC published their interpretation of these rules, which…
HMRC officers no longer manage their own arrangements for VAT control visits to registered traders. These are normally arranged from centralised services with access to officers’ work plans or diaries. The VAT registered trader will receive a letter setting out the time date and venue for the planned VAT control visit and give outline guidance…