Teresa Payne and Philip Fisher examine common misconceptions and clarify the income tax and NIC issues around non-executive directors.
Over the last year or two there has been a furore over individuals as well as companies seeking to minimise their UK tax and social security exposure.
Payments made to individuals ‘off payroll’ (i.e. without deduction of tax and NIC at source) are now attracting additional focus from HMRC the media and potentially shareholders. Unfortunately for companies this is a complex area and one that causes confusion leading to PAYE errors.
The government proposed to tackle this issue with new rules for ‘controlling persons’ and although the original proposals were abandoned changes...
