EMPLOYMENT ALLOWANCE EXPLAINED! DON’T MISS OUT ON £4000 FOR YOUR BUSINESS

Have you heard of employment allowance? This can save your business up to £4000 a year if you employee people.
Topics include:
Directors wages
Directors salary
Directors PAYE
Directors payroll
Employers allowance explained
PAYE scheme
Payroll scheme
HMRC basic tools
Employment payment summary
EPS
Full payment submission
FPS
Employment allowance explained
National Insurance Class 1
… and more!
If you have any questions on this, please comment below.
You can see more about what we get up to on the following:
LinkedIn (Dan): / danheelan
Instagram (Dan): / danheelan
Podcast: heelanhub.co.uk The HeelanHub Podcast, a show for small business owners.
Join our mailing list for tax tips at: www.heelanassociates.co.uk
Instagram (Company): / teamheelan
Facebook (Company): / heelanassociates
Twitter (Company): / heelanassocs
Web: www.heelanasso...
Call: 02392 240040 Email: [e-mail]
#accounting #PAYE #payroll #director

[@setache3628]

Absolutely brilliant 👏! You explained it with clarity, simplicity and precision. Thank you!

[@HeelanAssociates]

Glad you enjoyed :)

[@kingyousif8768]

thank you so much for these vidoes they are SOOO useful for me and my company!

[@HeelanAssociates]

Glad you found it useful!

[@foodbizztalk919]

Keep the vids coming, thank you for your efforts!

[@HeelanAssociates]

Glad you enjoyed

[@kairitac]

Thank you very much, I found your videos very helpful as I am planning to start a Ltd company in a few months time and I need all the advice I can get

[@HeelanAssociates]

Great news Kairi! Good luck with the business!

[@nbrown819]

quality, £4k is Class 1 employer free if your NI bill is less than £100k a year. best to hire part time than ft staff. .

[@HeelanAssociates]

£5k shortly! Re part time vs full, there are other costs to consider. Each ‘seat’ in a business tends to have other costs. Parking, toilet roll, tea bags, software licences, computers etc.

[@user-iy7vc4hc1v]

Employment Allowance allows eligible employers to reduce their annual National Insurance liability by up to £5,000 this year. (Y)

[@HeelanAssociates]

For sure, video is older.

[@user-iy7vc4hc1v]

@@HeelanAssociates Do you have any video about pension scheme? Thanks

[@paulyflyer8154]

Just one dumb question sorry. The NI paid is an allowable business expense for corporation tax, so how does it work if i claim the employment allowance and effectively dont pay any employers NI?

[@HeelanAssociates]

If the employers NI is wiped out by the allowance, it hasn’t cost you anything so there is no tax deduction required.

[@paulyflyer8154]

@@HeelanAssociates Thank you!

[@shayaansalman3249]

Hi, can Payroll be run for the last tax year ? Might sound silly, but as a limited company director, i have failed to run payroll for the year 2020-2021,can i run and send FPS to HRMC this year ? Is it acceptable??
Any help is much appreciated

[@HeelanAssociates]

In short, yes its possible!

[@ditzydicky]

Excuse me Mr Heelan, thank you for all your hard work, have you made any videos on Zero Hour/Casual Work contracts, and franchising/licensing agreements w/ any implications to tax or directors salary...? Hope you're well, god bless and one love (y)

[@HeelanAssociates]

No not yet sorry! Do you have any specific questions on these topics? You never know... might make a vid ;- )

[@leeburton3021]

Hi Dan, great videos, great resource and well explained. Can this EA be back dated?

[@leeburton3021]

no need to answer now thanks, got to that point! ;-)

[@HeelanAssociates]

You prob know now but yes :) we do this often for new clients who have missed out

[@nikeshmistri8317]

So can employers claim up to £4000 every year?

[@HeelanAssociates]

Providing they qualify each year yup.

[@christianpocobelli38]

Can this be claimed if company recently dissolved?

[@HeelanAssociates]

You’d have to go to court to re open the company first, then it depends on the status of your payroll scheme.