As to employees, even if you are the sole employee at the start, you will need to register for ‘Pay as you earn’ (PAYE), the system by which employers withhold and pay directly to HMRC income tax due on employee payments, and National Insurance Contributions (NIC), under which you will be responsible for paying an amount up to 12% of an employee’s salary (above and beyond their salary) to the government. You will likely want to seek help from an accountant to advise you on the details.

Overview | Business Taxation – What are the main taxes? | bytestart

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