min advised salary not to get investigated?

[richy]

ltd co pays at above the min wage for hours worked, but in current finantial year that is less than £10.5k... so will this result in possible investigation?? how is the 10.5k figure calculated? I remember some1 said qdos policy requires above a certain sal for employee.

could pay a bonus to take it over the 10.5k, as its only just under atm.
thx for tips. richy.

[minstrel]

ltd co pays at above the min wage for hours worked, but in current finantial year that is less than £10.5k... so will this result in possible investigation?? how is the 10.5k figure calculated? I remember some1 said qdos policy requires above a certain sal for employee.

could pay a bonus to take it over the 10.5k, as its only just under atm.
thx for tips. richy.

NMW is £5.52 per hour.

If you assume a 40 hour week and 48 weeks worked per year this gives you £10,598.40 which I guess is why people equate £10.5k as the annual equavalent of NMW.

Paying yourself over £10.5k doesn't mean you won't get investigated and paying yourself under £10.5k doesn't mean you will get investigated.

Some people argue that you might reduce risk of investigation by paying above NMW, but this is purely speculative.

[max]

NMW is £5.52 per hour.

If you assume a 40 hour week and 48 weeks worked per year this gives you £10,598.40 which I guess is why people equate £10.5k as the annual equavalent of NMW.

Paying yourself over £10.5k doesn't mean you won't get investigated and paying yourself under £10.5k doesn't mean you will get investigated.

Some people argue that you might reduce risk of investigation by paying above NMW, but this is purely speculative.

Excellent summation of the situation. If only our political leaders would talk like this.

[richy]

NMW is £5.52 per hour.

If you assume a 40 hour week and 48 weeks worked per year this gives you £10,598.40 which I guess is why people equate £10.5k as the annual equavalent of NMW.

Paying yourself over £10.5k doesn't mean you won't get investigated and paying yourself under £10.5k doesn't mean you will get investigated.

Some people argue that you might reduce risk of investigation by paying above NMW, but this is purely speculative.

Okay. thanks for the explanation. cheers. richy.

[hugebrain]

£5,200.

Minimum wage is for the hoi polloi, not for company directors.

[BrilloPad]

ltd co pays at above the min wage for hours worked, but in current finantial year that is less than £10.5k... so will this result in possible investigation?? how is the 10.5k figure calculated? I remember some1 said qdos policy requires above a certain sal for employee.

could pay a bonus to take it over the 10.5k, as its only just under atm.
thx for tips. richy.

Donate to the Labour party - then you wont be investigated.

[TheFaQQer]

ltd co pays at above the min wage for hours worked, but in current finantial year that is less than £10.5k... so will this result in possible investigation?? how is the 10.5k figure calculated? I remember some1 said qdos policy requires above a certain sal for employee.

could pay a bonus to take it over the 10.5k, as its only just under atm.
thx for tips. richy.

Yes - If you look through posts by QdosConsulting here, they said it. Think it needs to be £10k+ but not sure.

Their reasoning was that that figure made you less likely to have an investigation though.