The big question: Should young part-time workers pay tax?
The summer has been and gone, but The Independent certainly has an interesting story – a company who rejected a 15-year-old boy’s application for part-time work because he hadn’t paid tax on his previous earnings.
Even though the company may have been a bit strict, one of the biggest issues that face small businesses is the many hoops in place when hiring an employee. It’s important to remember that if you are hiring someone, your employees should have ideally declared previous earnings. That said, with a personal allowance in place of just over £8,000 for this tax year, it’s highly unlikely that the teenagers you employ will have broken such a threshold (of course, there are exceptions, such as super-genius techies, teen actors, and crooners in bands such as One Direction).
An accountant can give you all of the advice you need when it comes to your employees in a variety of circumstances. Not only does this protect you, but it prevents any workers who come onboard from a nasty bill from HMRC in the post.
Stonehouse Accountants operate in the Peterborough, Kettering, Corby and Market Harborough area, call us now if you’re looking to change accountant or need a new one. 01733 26588.