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  • PRIMARY THRESHOLD FOR NATIONAL INSURANCE

    In FY 24/25 I have worked as an employee in April and May; for salary of £5,210.87 over those 2 months my NI contribution was £292.89 Then I have quit that job, started my own one person limited company and now I am considering setting up PAYE. My intention is to pay myself a small salary, yet sufficient to to qualify for certain state benefits. I want to understand how does the maths work for the remaining part of this FY for 1) PRIMARY THRESHOLD FOR NATIONAL INSURANCE: with £9,568 per year for 2024/25 should I have my PAYE of no more that £9,568 - £5,210.87 = £4,357.13 for the rest of the year? 2) USE FULLY PERSONAL ALLOWANCE: with £12,570 per year for 2024/25 should I have my PAYE of no more that £12,570 - £5,210.87 = £7,359.13 for the rest of the year?
  • Client request for invoices with VAT

    My company is not exceeding the VAT registration threshold, and is not registered for VAT. A client my company is about to provide services is requesting to charge VAT on invoices, while my preference would be not to have to register for that tax. Do I have to invoice with VAT on client's request (or discontinue doing business with that entity) or there are other ways around it?