After 20 years in the financial industry, Erin Williams set up her mortgage broking business as a sole operator in February 2024. She is the last person one would expect to need to pay payroll tax.
“I was always advised it was not applicable,” Williams said. “I’m not paid wages … I simply get passed on commission from the bank, and I pay my aggregator for their service.”
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.