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Ltd company increasing monthly pay?

garybarlowsbeard · 2014-03-31 18:40:31

Hi Am I right in thinking I can increase pay from £641 to £833pm and be better off overall due to increases in PAYE/NI/NI employers/ees allowances? There are two of us who own the company equally and take most pay as dividends. Cheers GBB

Comments

AbbieCadabra Posts: 1,712 Forumite

5 April 2014 at 9:48AM

as above, check! i'm seeing lots of different figures being quoted on various forums.

our accountant has advised for one-man band (no employees) Ltd co., basic tax code, no other income = £812.89 p/mth with £20.44 NI due.

we're entitled to the £2k NI reduction but we have employees so we'll be taking £663 p/mth each as Directors with no tax/NI due, plus dividend when availabile.

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