Can anybody tell me what the advantage is of employing my wife as a secretary in a small ltd company as i am about to form one and i keep hearing that it’s a good idea but never had a reason.Also you have to pay corporation Tax don’t you which i think is around 19-20 % so won’t this cancel out what you save on paye ?
As long as she is self employed as well and doesn’t charge you 300 a week then you can claim her wage as an expense but becareful to keep an eye on her tax threshold as any over 9k a year shell pay tax on also depends if she has a job outside your company. You’d need to speed to an accountant really but do it right and her wage will be tax free and in your pocket
I understand thanks a lot