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  • Tax Breaks for Directors - Part 2  Director shareholders - 14. Tax-efficient salaries - 14.3. National minimum or living wage
    14.3. National minimum or living wageMight such a modest salary fall foul of the requirement to pay the national minimum wage (NMW) or the living wage (NLW)?Note. Since 1 April 2016 the NMW rules apply only to those aged 24 or less. The NLW rules applies instead to those 25 and over.ExampleThe adult NLW rate since April 2019 is £8.21 per hour which, assuming a 40-hour week for 52 weeks per year, yields a salary for the whole of 2019/20 of £17.077. Therefore, where the NLW applies a salary of £8,632...
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  • Tax Breaks for Directors - Part 1  Directors only - 3. Your salary - 3.2. Directors’ salary and the NMW and NLW
    3.2. Directors’ salary and the NMW and NLWIn principle, directors can take as much salary as they want. There’s no official cap, however there is the NMW or NLW to consider. In April 2016 the NLW replaced the NMW for employees aged 25 and over. These rules apply to directors where, for purposes of the NMW and NLW legislation, they are treated as an employed worker, but not if the only duties you perform are those of a company director or company secretary. Tax break The Department for Business, Energy...
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