employing younger family member
Discussion
Missus is sole director of a ltd company. She has various sources of income, one is lecturing on specialist technical courses. Shes been asked to try some online course next year, its going to involve putting packs together, posting/receiving them back, then on the day streaming, multiple cameras/feeds. Its a tough gig mentally and she doesnt want to worry about the tech so figure we can get my 15yo son involved to do some work, spec/setup all the tech, run it on the day and help pack it all away.
Ive googled and straight away im put off as employer liability and pensions need to be considered!! So is it worth the hastle? Probably a couple of days work per course, maybe 4 next year, hes not 16 til May 2021. She already has a payroll for salary. Cheers
Ive googled and straight away im put off as employer liability and pensions need to be considered!! So is it worth the hastle? Probably a couple of days work per course, maybe 4 next year, hes not 16 til May 2021. She already has a payroll for salary. Cheers
Error_404_Username_not_found said:
Make the boy a shareholder with a small stake. Pay him in dividends. No employment benefits and better tax rates, depending on how much he makes. Prolly end up doing his tax return for him though, but that's not too onerous.
This doesn't work for many reasons. The main one being that he's 15.As you have a payroll set up, any employed income you pay him should be included on your payroll, even though he wouldn't pay any tax. Alternatively he can earn £1,000 a year utilising the trading allowance exemption. But the reality it, you may as well just pay him some cash given the low volume of the transactions.
You could hire a room with the tech already set up to save the hassle?
We’ve got a 3 camera / mic professional webinar set up in our meeting room with a mixing desk that can be used for exactly this kind of thing. We sometimes let it to a local business.
There maybe a similar set to locally to you
We’ve got a 3 camera / mic professional webinar set up in our meeting room with a mixing desk that can be used for exactly this kind of thing. We sometimes let it to a local business.
There maybe a similar set to locally to you
M22s said:
Why wouldn’t you just pay him a bit more pocket money for helping mum? I don’t mean that to sound pokey, genuine question.
The above is the obvious answer.I worked for my parents business on and off starting at about 14 ish.
I didn't get paid, but was correctly told that me helping out helped the family finances, and therefore I was helping myself in the long run... because the family finances would eventually be handed to me.
To be honest, I would just ask the 15 year old if he would work for no pay, on the grounds that he is no doubt rewarded in pocket money, clothes, gadgets, presents, and pretty much everything else that a 15 year old requires.
In fact cancel that, I wouldn't ask him, I would tell him he was helping.
Similar thing with us. We have a 15 year old who works weekends for us cleaning, tidying up and doing some IT stuff. We asked book keeper if we could put him on payroll, the suggestion was that he fills out a timesheet and hands it in monthly and we just pay him using the timesheet like a receipt for purchases.
Keeps the books straight and seems the only 'proper' way to employ a youngster.
I would do this properly, this isn’t helping out with the lawn mowing, or tidying his room regularly, or helping dad with some DIY.
Extreme anecdotal example - A school mate’s parents had a haberdashery - they “asked” him to work long hours and so regularly- it was affecting his school work. He was 14. He wasn’t paid anything. He decided his efforts were worth a few quid, so he took it out of the till. They never even noticed… a really bad instance to start your life with.
Extreme anecdotal example - A school mate’s parents had a haberdashery - they “asked” him to work long hours and so regularly- it was affecting his school work. He was 14. He wasn’t paid anything. He decided his efforts were worth a few quid, so he took it out of the till. They never even noticed… a really bad instance to start your life with.
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