Monthly Archives: June 2021

Does Being an Influencer Mean Anything Anymore?

by Timothy Carter • June 14, 2021 • 0 Comments

Does being an “influencer” really mean anything anymore? And if so, how can we thrive in an era with deteriorating public trust?

What taxes does a business pay when employing staff?

by Emma Twynholm • June 14, 2021 • 0 Comments

Originally written by Emma Twynholm on Small Business
It is easy to forget that even if you are a director of your business, you are considered an employee as well. Directors, just as the staff they employ, could be subject to any of the taxes mentioned in this article.
However, as a director it is often possible to structure your income from the business so that you don’t pay PAYE or National Insurance contributions (NIC) on salary and instead pay tax on dividends, which starts at a more favourable tax rate of 7.5 per cent compared to 20 per cent for salary.
For the people you employ you would need to be aware of the following taxes that will potentially apply.
National Insurance
The main tax that you need to be aware of when employing someone is National Insurance. Businesses are required to pay Class 1 employer’s NIC on any employee’s earnings over £737 a month. Employer’s NIC is charged at a rate of 13.8 per cent. If the staff member is under 21, the business pays no Class 1 NIC on earnings below £4,189 a month and 13.8 per cent above this threshold.
National Insurance is extended to Class 1A and Class 1B. Class 1A

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Small business calls for support extension to match reopening delay

by Timothy Adler • June 14, 2021 • 0 Comments

Originally written by Timothy Adler on Small Business
Small business associations have called for support to be extended to match any delay in reopening due to current lockdown restrictions.
The final easing of lockdown restrictions is set to be postponed beyond June 21, according to reports. Most current rules will remain in place.
However, from July 1, businesses are due to contribute 10 per cent of staff wages in a staged withdrawal of furlough, which is set to finish at the end of September. And a moratorium on evictions and debt collection from commercial tenants is due to lift on June 30.
>See also: Swap Bounce Back debt for employee equity, say industry experts
The worry is that without more taxpayer support already vulnerable small businesses will close completely.
Organisations including the Federation of Small Businesses, UK Hospitality and British Chambers of Commerce said they were poised to demand help such as loan forbearance, more generous furlough terms, and an extension to an eviction ban and business rates holiday.
Most hospitaly venues are still losing money, are buried under a mountain of debt, and consider any delay to the lockdown easing timetable as a grave threat to the industry with hundreds of thousands of jobs at risk.

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Why Your Retirement Calculator Might Not Tell the Whole Story

by Melissa Brock • June 14, 2021 • 0 Comments

Have you ever used a retirement calculator and wondered how much you could actually rely on it? Take a look at a few reasons why you might want to be…

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How to Implement an Employee Attendance Policy

by Successful IBO • June 14, 2021 • 0 Comments

Managing employee attendance may seem taxing, but a lax policy can negatively impact your business’s ability to operate.

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Vocal Review: How to Make Money as a Vocal Creator

by Editor • June 14, 2021 • 0 Comments

I was scrolling through my Facebook newsfeed a few months ago when I came across an ad for a short story contest hosted by a site called Vocal Media. Lured by the $20,000 grand prize, I signed up, wrote a story, and entered it into the contest. Once on the platform, I was intrigued to […]

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