My client is a UK sole trader operating 4 guest food inclusive barge cruises aboard a UK registered narrowboat on the canals in France, Turnover is circa £150,000.
I have an offer from a family member who is willing to be an unpaid director.
Do I have to pay them something? eg; minimum wage at least which is £6.31 or a lump sum.
I am at the early stages and considering forming a personal investment company, depositing up to £50,000 as a loan to it so it can invest in other companies and (upon their sucess) receive dividend
Wondered if anyone has any knowledge on Australian tax?
I'm fairly sure I know that answer to this but can't find anything absolutely definitive so would appreciate some clarification from the brains trust:
Conservative MPs have blamed a "Dickensian" tax system for low CT receipts, as HMRC figures show that Revenue income from CT enquiries into 'big business' has fallen to its lowest for six years
Each month we run a ‘Focus On’ to highlight the good work of small businesses in a particular industry.
Small and Medium Sized Enterprises (SMEs) account for 99% of private sector enterprises, employ nearly 60% of private sector employment and almost 49% of private sector turnover.
- Budget 2010: At-a-glance guide 19,209 9
- Monthly dividend payments to director - sole shareholder 15,659 6
- ACCA newly qualified but its not enough... 13,926 20
- Marginal Rate of Tax 13,870 5
- Accountants' IR35 knowledge ‘worryingly vague’ 12,890 15