Directors and others on “Minimum” Salary – Increase and PAYE Obligations

A top tip from our accountants, Stopford Associates. Something for you all to look out for and speak to your accountant and coach about…

Anyone who is currently being paid a salary of £475 per month (or £110 per week) in order to secure NI contributions should note that from 6 April 2011, this should be increased to £585 per month (or £135 per week).

There is quite a large increase this year which is due to the ‘nil band’ for NI increasing more than usual to assist the lower paid with the increase in the rate of NI from 11% to 12% (once earnings exceed this ‘nil band’).

Finally a reminder, that if you draw this level of salary, even though no tax or NI is payable on it, a PAYE scheme is still required and P35’s/P14’s still have to be submitted to HMRC (online) by 19 May following the tax year.

If you want further information please contact us at support@sterling-coaching.com

Your comments and questions are welcomed in this blog post.

Thanks

Simon

 

Free ’5 Steps To Business Success’ Seminar 15/3/11 1.30pm

The 5 Steps To Business Seminar

Due to the huge success of my ’5 Steps To Business Success’ Seminar in January, I am holding another on the 15th March 2011, starting at 1.30pm.

All attendees, I know took great value from the seminar content. I wondered if you or someone you know might be interested and benefit from my seminar. If so I would be grateful if you could pass this email or attached flyer on to them. I still have a few places left but as the seminar approaches registrations are now filling up.

Register online or just call us on 01400 225002.

Thanks for your help, it is much appreciated.

Hello world!

Welcome to the new Blog of Sterling Business Coaching.

The purpose of this blog is to share outstanding practice, ideas and inspiration in businesses across the world.

Each month a regular update will be posted by our principal business coach, Simon Meadows.

Other posts will be submitted or can be received based upon the real experiences of our coaches, our clients and our followers.

Please add your comments so that massive benefit can be given and taken from the posts.

If any blinding flashes of the obvious or of inspiration hit you please remember they are useless without immediate, massive action….

Welcome again to our community, enjoy and learn and take actions from it….