Is it possible for a family owned limited company to add teenagers to the payroll?
The obvious benefit seems to be that they will be on 20% tax upto the top of the single persons band so its better than the existing employees (their parents) withdrawing further salary at the top rate of tax.
Is this legal?
Is there a reason for this to be a poor idea from a tax point of view?
The obvious benefit seems to be that they will be on 20% tax upto the top of the single persons band so its better than the existing employees (their parents) withdrawing further salary at the top rate of tax.
Is this legal?
Is there a reason for this to be a poor idea from a tax point of view?