Will directors who also own shares in their firms have to pay higher national Insurance contributions (NIC) when we emerge from lockdown? Perhaps. Many directors take a small wage of £720 per month with a dividend from the company’s profits, to top it up. This has long been considered one of the most tax-efficient ways of rewarding director shareholders. Could this cause a problem with the government’s furlough scheme? In… Read Article →
Monthly Archives: June 2020
Extension of the Coronavirus Job Retention Scheme (CJRS)
Last month, the Chancellor Rishi Sunak, announced an extension to the Coronavirus Job Retention Scheme (CJRS). The CJRS enables employers to furlough employees, so that the government pays 80% of their wages. You can find information about the original CJRS here. To help our clients, we’ve provided a summary of the two major changes to the CJRS: From July 1st the scheme will be more flexible. Since the scheme was… Read Article →