There are two main methods to take income from a company you own: Dividends Wages Each of these methods have their own advantages and disadvantages. What are Dividends? Dividends are payments used to distribute a company’s profits between its shareholders. They are issued after tax and require a company to have a positive balance of…
We have previously covered employee entitlement regarding holidays and illness. However, there is another form of centrally important employee entitlement we have yet to cover; Statutory Maternity Pay and Leave. Statutory Maternity Leave When you have a baby you are entitled to take maternity pay and leave. The time-off work is known as Statutory Maternity…
Are you struggling to understand how to work out Holiday pay entitlement for your employees – this post will clearly explain everything you need to consider.
It’s one thing to have a successful business that makes money, but how would you use the profits to pay personal expenses or invest? With a sole trader business, it’s easy. As you are the one earning the money, it is yours to spend how you wish, provided you take care to save some to…