Tax and NICs

Taking care of the pennies

Paying tax is a necessary evil, whether you employ a team of staff or simply wish to extract money from your business to fund your chosen lifestyle.

We can help you to keep more of your hard-earned money and minimise your tax bill by choosing the most tax-efficient methods of remuneration.

Paying yourself

We will help you to consider the best way to extract profits from your company. Whether you opt for a salary, dividends or benefits-in-kind, we’ll recommend a method that will save you money and keep your tax bill down.

Strategic savings

National Insurance contributions entitle you and your staff to the State Pension and Maternity Allowance, among other benefits.
There are a few ways to save money on NICs:

• Increasing the amount you contribute to company pension schemes
• Share incentive plans (shares bought out of pre-tax and pre-NIC income)
• For companies, disincorporation and instead operating as a sole trader or partnership
• Instead of more salary, paying a significant one-off bonuses to reduce employee contributions (this won’t work for directors)
• Paying dividends instead of bonuses to owner-directors
• New claims for childcare vouchers ended on 4 October 2018, although existing claims submitted before this date remain valid

We can help you to choose the most tax-efficient way to remunerate yourself and your employees.

Your payroll done for you

Let us take the administrative burden of being an employer off your hands. We offer a comprehensive payroll service to clients of all sizes, including owner-directors, contractors and large corporations.

We’ll help you to meet your tax liabilities and reporting requirements so you never have to worry about paying your employees and the taxman.