Wife joining practice
castiel
Registered Posts: 2 New contributor 🐸
I am a bookkeeper and work by myself at the moment. My wife has recently stopped receiving SMP and instead of returning to work will be working with me doing the majority of the bookkeeping while I concentrate on another business I own.
Should she become a partner in the business and be a member in practice herself (she is already a member of AAT) or should she be an employee of the business? Either way is fine really we just would like to know which way would be more financially beneficial when taking into account tax credits etc.
At the moment the business is still very small, and although she will be working a lot on admin/marketing the business to expand it, actual chargeable income for the time being won't be 16 hours per week.
I would like to ask for opinions please!
Should she become a partner in the business and be a member in practice herself (she is already a member of AAT) or should she be an employee of the business? Either way is fine really we just would like to know which way would be more financially beneficial when taking into account tax credits etc.
At the moment the business is still very small, and although she will be working a lot on admin/marketing the business to expand it, actual chargeable income for the time being won't be 16 hours per week.
I would like to ask for opinions please!
0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 319 NEW! Qualifications 2022
- 157 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 92 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 274 Tax
- 136 Bookkeeping
- 7.2K General accounting discussion
- 201 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership