£3,000 allowance is not for you
You may have seen in our budget coverage that the allowance for employers to set against their National Insurance liability has been increase to £3,000 in this tax year.
However if you are the director of a limited company where you are the only employee being paid above the secondary threshold for class 1 NICs, then sadly you won’t be able to claim it.
If you are unsure about the implications of this on your tax position then get in touch today.
Call 01384 235549 or email email@example.com to arrange an appointment.
Lewis Smith & Co. – Accountants for Brierley Hill businesses.
Image source: Flickr courtesy of Dave Crosby