Originally posted by pjt
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Reply to: Living Wage
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Previously on "Living Wage"
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One benefit to having a contract and therefore NMW is you MIGHT be able to claim redundancy when the company is closed.
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Originally posted by mudskipper View PostJust gone and checked the advice from my accountant, which was that if you want to claim SMP/SPP, you may need a contract of employment, and would need to pay NMW.
And in any event I'm almost certain that you still qualify even without NMW.
https://www.gov.uk/guidance/statutor...-pay#directors
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Originally posted by pjt View PostMy accountant has suggested I should increase my salary to £13,104 to take into account the living wage changes. Has anyone else been recommended to do this? My understanding was always that as I Director this was not something I had to worry about, as the minimum wage rules etc did not apply.
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Originally posted by mudskipper View PostSome people want to have a contract of employment for various reasons. If you have a contract of employment, my understanding is that you have to pay NMW.
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Originally posted by mudskipper View PostSome people want to have a contract of employment for various reasons. If you have a contract of employment, my understanding is that you have to pay NMW.
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Originally posted by Alan @ BroomeAffinity View PostNot sure even that makes sense tbh. The only two (under normal circumstances) that are sensible options are the LEL and the PA. I can't see the point in anything else. Although I do know of many accountants locally who insist on the use of NMW, I can't see the point in even presenting it as an option - except in a "don't to do this" scenario.
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Originally posted by d000hg View PostMy accountant listed 3 or 4 options, one being NMW for those who wished to go that route but it wasn't advised.
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Perhaps the Director has been given a Contract which makes him a worker subject to the NMW?
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My accountant listed 3 or 4 options, one being NMW for those who wished to go that route but it wasn't advised.
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Originally posted by stek View PostIs that what Accountants are like when they are circling for a kill?
Whenever I read about an accountant giving advice that doesn't make any sense, I always wonder what is the rest of the story. And if I'm going to be bothered to comment on it, I try to think of the scenario that would make the accountant's advice make sense. Outside income? Foreign income? Something to do with spouse?
I can think of ONE case that might make sense. If OP also is self-employed doing something else, and has self-employment losses to set off against the income, AND is employing a spouse so he gets to use Employment Allowance, then MAYBE this would make sense. But since the reason given was the Living Wage, I conclude that OP's accountant is probably an idiot. I'm with Alan. I'd be disengaging as soon as....
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@stek: it amazes me what sh!t clients (not mine obvs) will put up with from their accountants. You wouldn't employ a brickie if he had to ask on a forum how to mix up mortar.
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Originally posted by pjt View PostOK guys thanks for the quick update. I'll bring it up when I next see him
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