Category Archives: PAYE

Tax Efficient Salary And Dividend – Tax Year 17/18

For the 2017/18 Tax Year (6th April 2017 to 5th April 2018), you have 2 options as follows: Option 1 is for Companies with just the Director as an Employee Option 2 is for Companies with an Additional Employee Option One – Annual salary to NI threshold Gross salary £8,164 equal to £680.33 per monthContinue Reading

Setting your Tax Free Salary and Dividends from April 2015 Up to March 2016

Taking into account the recent budget changes and the new Pension Auto Enrolment Rules, I recommend taking the following Salary and Dividends from April 2015 to March 2016 from your Limited Company, assuming you have no other income and the limited company has profits available to distribute: – An Annual salary of £8,060 (equivalent toContinue Reading

Tax Free Salary and Dividends 14/15

Taking into account the recent budget changes, the most tax efficient mix Salary and Dividends from April 2014 to March 2015 from your Limited Company, assuming you have no other income is as follows: – An annual salary of £7,956 (equivalent to £663 per month), plus – Net dividends of £30,518 This will give you an AnnualContinue Reading

Minimum Wage Increase from 1 Oct 2012

The national minimum wage (NMW) hourly rates which will apply from 1 October 2012 are: – adult rate £6.19 (9p increase) – 18–20 year olds £4.98 (no change) – 16–17 year olds £3.68 (no change) – apprentices £2.65 (5p increase)Continue Reading

PAYE Tax Payers

PAYE Tax Errors You may have seen the media coverage over the past few days about over and underpayments of tax. It has been widely reported that HMRC’s new PAYE computer has calculated that some six million people have underpaid £3 billion in PAYE. HMRC are currently sending out letters to people if they believeContinue Reading