Can you pay your family members?
Can you pay your family members?
The conversation touches on key considerations such as appropriate compensation levels, potential deductions, and the nuances of employment laws when hiring family members.
January 9, 2025

Hayley and Simon discuss the ins and outs of paying family members who work for you, including how to make the most of tax benefits. They talk about ways to structure these arrangements to keep things financially efficient while staying on the right side of the law. The conversation covers fair pay, taking advantage of possible tax deductions, and understanding the rules around hiring family members.

The information contained in this article is based on the opinion of Hive Business and does not constitute formal tax advice. Any tax outcomes will be based on individual circumstances, tax legislation and regulation, which are subject to change in the future. You should seek specific advice before embarking on any course of action. Hive Business does not provide regulated Financial Advice, including advice on investment, insurance or lending products or their suitability for you. This article is provided for information only and does not constitute, and should not be interpreted as, investment advice or a recommendation to buy, sell or otherwise transact, or not transact, in any investment including Bitcoin and other crypto. Any use you wish to make of any information contained within this article is, therefore, entirely at your own risk.

By Hayley Robins ACA Accountancy Director
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