[Putting this out late in the tax year (we are in August!) because so many new businesses are being started post COVID-19 lockdown.] Most tax efficient salary for directors in 2020/21 is £8,788 per annum. This equates to £732 per month or £169 per week. You may top up with dividends. HOW IS THE TAX … Continue reading
Accurately calculating ‘Use of Home’ expenses has always been problematic even for experienced accountants due to the vagueness of HMRC guidance. The attached Excel Spreadsheet is an excellent aid for our clients. The formulas are already inserted so just plug in your figures. Don’t forget to expand the columns if necessary. Should further help be … Continue reading