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Very Small Business and AE
Comments
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i needed to alter our shares allocation recently & our accountant was very helpful, worth asking yours for advice on this?0
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I find all the official websites on AE useless to put it mildly. Can anyone suggest whether they think my company is caught by AE?
Neither me nor my wife have contracts. Each of us work when there is work to do. I take £12k pa (£1k pm), she has £4k pa (£333 pm). I am a director, she does the admin and is not. Both of us are shareholders.
You don't have to have contracts. You have to be qualifying workers (if not qualifying employees) you will be auto enrolled she has the option to be.
Paid off all Catalogues 10.10.20140 -
As an electrician I am a sole director of a ltd company.
yes you have to get caught up in auto enrolment etc or AE as you like to abbreviate it.
To much nonsense for me so I am reverting to sole trader to avoid it in 2017.
goodbye PAYE , RTI and AE.0 -
neil_the_electrician wrote: »As an electrician I am a sole director of a ltd company.
yes you have to get caught up in auto enrolment etc or AE as you like to abbreviate it.
To much nonsense for me so I am reverting to sole trader to avoid it in 2017.
goodbye PAYE , RTI and AE.
The only requirements for Auto Enrolment are that you employ someone in the UK.
Making yourself sole trader from LTD won't change anything, and you'll probably end up paying more tax (because that's why you became LTD in the first place, right?)0 -
The only requirements for Auto Enrolment are that you employ someone in the UK.
Making yourself sole trader from LTD won't change anything, and you'll probably end up paying more tax (because that's why you became LTD in the first place, right?)
nothing to do with AE, but depending on your yearly profit, those LTD tax benefits have now been greatly reduced so perhaps worth reviewing whether it's still worth it being Ltd against sole trader.
still got to comply with AE though!0 -
But a limited company can make employer contributions which count as a business expense offsetting any corporation tax liability and there is no income tax nor NI involvement.
I assume that a self employed sole trader cannot do that and pension contributions are taken from income after NI (class 4?) has been calculated?0 -
And employer NI paid by Govt upto £3,000 for small companies.illegitimi non carborundum0
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I find all the official websites on AE useless to put it mildly. Can anyone suggest whether they think my company is caught by AE?
Neither me nor my wife have contracts. Each of us work when there is work to do. I take £12k pa (£1k pm), she has £4k pa (£333 pm). I am a director, she does the admin and is not. Both of us are shareholders.
This is one of the reasons my wife and I have closed our Ltd Co, and now are to become a partnership with no employees.
Cameron promised a bonfire of regulation, one in one out, lol. Being LTD = HASSLE0 -
I can confirm that 1 director on nominal salary and 1 employee on £4k would be caught for AE but neither of you would be automatically enrolled so you would not need a pension scheme
I have a few clients where none of the employees are eligible so there was one letter to state that at the beginning and nothing else to do unless they ask to opt in or their income changes0 -
So what do I need to do? I got another leaflet this week, its as vague as the previous one.illegitimi non carborundum0
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