RE: FN-FORUM [OT] Employers NI Contributions

date posted 1st December 2002 22:04

NI - employees, everybody pays based on the SALARY only
NI - employers, employers pay - so if you're self employed, then you
don't pay.
VAT, charge on ALL invoices, reclaim anything for the company that is
VAT related. If you've got a company car then you can only claim back
50% Vat on the rental (but 100% on maintenance) and don't forget the VAT
fuel scale charge.



-----Original Message-----
From: Darren Beale [EMAIL REMOVED]
Sent: 01 December 2002 20:55
To: [EMAIL REMOVED]
Subject: FN-FORUM [OT] Employers NI Contributions


Hi,

I've been doing my (first ever) cashflow forcast for the next 12 months
and I have some rather specific question relating to NI/PAYE...

I'm only going to pay myself a minimum salary, minimum wage (£4.20 per
hour
* 8 hrs * 5 days * 4 weeks ) = £736.00.
Then the company has to pay employers NI contributions @ 11.9% (12.9%
after
April) Is that right?

Bonus question, still relating to this cashflow forcast...
VAT, I only forcast VAT that the Co has to pay for sales (inc VAT)
right? I don't have factor in the VAT I claim back off all 'Payments' -
say - Captital Equipment?

I'll run this by my accountant tommorrow, but I'd prefer to know what
I'm talking about when I speak to him.

thanks

--
Darren Beale - Acksys Ltd
Office: 020 8530 1454
Fax: 07092 394822
Mobile: 07711 716197
http://www.acksys.co.uk



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