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HM Revenue and Customs (HMRC) and the Department for Business, Innovation and Skills (BIS) have announced that employers in the hairdressing and beauty sectors who pay their staff below the national minimum wage are being targeted in a Minimum Wage campaign. Owners of hairdressing and beauty salons are being targeted because research shows that 42% … Continue reading
The Old – Effective till April 5, 2015: 10% tax is deducted at source and treated as tax credit if there is additional tax liability. Essentially, basic-rate taxpayers pay nothing extra on the dividend they receive whilst higher-rate and additional-rate taxpayers pay 32.5% and 42.5% respectively, less the tax credit. The New – Effective April … Continue reading
Phoenix Debola 