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What is the 24 month rule when working overseas
The basic 24 month rule applies – if you are an employee or director and work, or know you will work, at a temporary workplace for 40% plus of your working hours for over 24 months - you are caught by the ‘24 month rule’ and can no longer get tax relief on related...
What to do if you have gone over the VAT threshold?
You should talk to an accountant urgently! If at any point during a 12 month period, (good to review this monthly) your turnover exceeds the VAT threshold of £90,000, you must register within 30 days from the end of the month in which you went over the limit. If the...
Should I pay myself extra salary or extra dividends?
Generally, for small Companies, dividends are still more tax efficient than salary because, despite incurring dividend tax, they avoid 15% Employer’s National Insurance plus, possibly, 8% Employee’s National Insurance. So usually it’s better to vote, and pay dividends...
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