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UK is very different in this regard. This is why many EU companies actually register in UK. You have no compulsory NI nor NHS payments. If you want you can pay
by Roark66 7y ago
UK is very different in this regard. This is why many EU companies actually register in UK. You have no compulsory NI nor NHS payments. If you want you can pay yourself a salary of 1GBP per month if you're a director.
Contrast that with Poland (and many other EU countries) where no matter if your company makes money or not you owe the tax man between $300-600 per founder or employee.
- cstross 7y agoI don't know where you get the idea there's no compulsory NI in the UK ...! The NHS is paid for out of income tax; unless you're wealthy going in, you're going to be paying yourself and your employees sooner or later.
- GeneralTspoon 7y agoTechnically there aren't any compulsory NI contributions below a minimum threshold (~£8k per year). Obviously you're going to hit that if you're paying employees, but for companies with multiple directors/founders - they can pay themselves minimum salary + take dividends (which don't require NI contributions to be paid). Above that threshold means you pay an extra ~13% in employer NI contributions on top of the gross salary of your employees.