What will be the best ammount to pay ourselves in April

[UKSBD]

I think I have asked this before, but can't remember the answer (or find it) :redface:

I know that from April our tax allowance changes, but does the NIC contributions rate change as much?

Has anyone worked out the ideal ammount to pay ourselves
(Director Ltd. company) yet?

[Tom McClelland]

Are you asking about a payment before or after April 5th.

If after April 5th the rates aren't known yet.

If before then probably the best amount to pay (in wages) for the year is £5715

This assumes that you've been a director for the entire tax year, at least since April 6th 2010. If the company started since then or you were appointed as a director since then that £5715 figure is reduced pro-rata.

[GGGSurrey]

Are you asking about a payment before or after April 5th.

If after April 5th the rates aren't known yet.

If before then probably the best amount to pay (in wages) for the year is £5715



Am I wrong to say that the £5715 should be £5715 minus any other income - such as interest on savings?

[David Griffiths]

Am I wrong to say that the £5715 should be £5715 minus any other income - such as interest on savings?

Yes you are wrong. The £5715 is driven by the National Insurance thresholds which aren't affected by other income sources

[UKSBD]

Are you asking about a payment before or after April 5th.

If after April 5th the rates aren't known yet.


Thank you, I was talking about from Next April.
When are the rates for next April announced?

[Tom McClelland]

Thank you, I was talking about from Next April.
When are the rates for next April announced?

In recent years this has usually been in the Chancellor's autumn budget.

But that much notice of the new year's figures is not enshrined in law, and in theory the rules can change at any time. At one time these things were in the spring budget I think.