The 12 Tax Tips of Christmas – Tax Tip 5

…. make it a family affair. Are you stuck for a Christmas present for a family member? Do they help out in your business? Why not make them part of your company and use up their tax-free allowance that may otherwise be wasted (they can earn up to a single person’s allowance of £11,500 per year without incurring any tax obligations). A wage between £113 and £157 a week will not create a National Insurance charge  but it will give your family member credits towards their state pension. We are Profit Consultants and Chartered Accountants who help people achieve their business goals. Send our team an email at [email protected] or call 01628 623444 to see how we can help your business to achieve its full potential.


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