Valuing Yourself in Business Why Paying a Fair Salary Matters

And not least, because it means if you're paying yourself a fair salary, it means you value yourself. You value yourself as an important employee within your business. You deserve to pay yourself a fair salary. I went from paying the basic rate salary, which I did for years through my agency days and at the start of my coaching practice, had this conversation with my accountant. I said, look, I wanna pay myself more. So I pay myself the equivalent of, I think it's about a £33K a year salary. Everybody has to pay tax. If I'm worried about a few hundred pounds worth of an extra tax bill, I'm not earning enough money in the first place, and my business isn't profitable enough in the first place. A couple of things which you can do again to— through that, the method which I've talked about, paying yourself an actual fair salary, and if there is some profit left, obviously pay yourself some extra dividends as well, but pay yourself a fair salary.