TAX free personal Allowance

[Robert74]

As a director of a buisness I have been taking £453 a month and adding it to my directors loan account.

Has this figure now changed? If so how much is it now and when did it change? I read somewhere that the N.I. threshold hadnt changed so I was better off sticking at the £453 allowance, is this true?

Thanks

[Andrew @ PLA]

Hi Robert, do you process your own payroll or outsource this to a payroll bureau? I don't know any Directors that take £453 per month.

[Williams lester]

As a director of a buisness I have been taking £453 a month and adding it to my directors loan account.

Has this figure now changed? If so how much is it now and when did it change? I read somewhere that the N.I. threshold hadnt changed so I was better off sticking at the £453 allowance, is this true?

Thanks

Assuming you have no other PAYE income, the most tax efficient figure is £476.25, this assumes that you have set up a PAYE scheme for your company.

[Jenni384]

Yes, £476.25 and I think this changed in April 2009.

I seem to recall £453 (or thereabouts) was the 2008-09 figure.

[Williams lester]

Yes, £476.25 and I think this changed in April 2009.

I seem to recall £453 (or thereabouts) was the 2008-09 figure.

Thanks for adding the date to this Jenni, I couldn't recall when it actually changed, as it seemed a long time ago!

[Jenni384]

Thanks for adding the date to this Jenni, I couldn't recall when it actually changed, as it seemed a long time ago!

I'm pretty sure this is only the second year of £476.25 but yes, it seems like we've had it for ages!