I would say that you need to set salaries at a reasonable level for the work to be performed. Setting them artificially low now simply stores up problems for later. Equally, saddling the balance sheet with debt is not good for financial…"
Really new to all of this so sorry if this all seems obvious. How do i set up paying the directors and how do i set wages. Is it better to set wages low for the first year and the raise them or have the company owe directors/ employees money. How do I record what wages I am setting, is there a policy i should be writing? Should i pay through PAYE will that system take care of things like NI, tax, sic pay etc? If the directors are also employees working on 0 hour contracts do i need several…See More
For any accounting related queries, including accounts software package questions, grants and trading income treatment, HMRC or Companies House queries/issues, tax reliefs for CICs, links to useful finance information etc