Many small businesses, whether incorporated or not, pay family members for working for the business. However, as a recent case shows, it is easy to make mistakes which can prove costly.
MORE TAX The tax and NI treatment of termination payments currently depend on whether or not they are classed as earnings. This has often not been clear cut and factors such as whether the payments were provided for contractual reasons have had to be considered. For instance, the treatment of payments in lieu of notice […]