What PAYE Amount Should I Use From April 2018?

2»

Comments

  • atilla
    atilla Posts: 862 Forumite
    First Anniversary Combo Breaker
    Dazed_and_confused wrote: »
    It would be interesting if the op could check their National Insurance details and State Pension entitlement on their Personal Tax Account in a couple of months, will be interesting to know if 2017:18 is shown as a qualifying year?
    Why wouldn't it?
  • Dazed_and_confused
    Dazed_and_confused Posts: 6,458 Forumite
    Uniform Washer
    Because the op is being paid £679/month.

    https://jf-financial.co.uk/2017/01/12/optimum-directors-salary-dividends-201718/
  • silvercar
    silvercar Posts: 46,944 Ambassador
    Academoney Grad Name Dropper Photogenic First Anniversary
    Dazed_and_confused wrote: »
    Because the op is being paid £679/month.

    https://jf-financial.co.uk/2017/01/12/optimum-directors-salary-dividends-201718/

    You are miss interpreting the levels.

    The primary threshold (the point at which you start to pay NI contributions) is £680 per month.

    The lower earnings limit ( the lowest amount you can earn which qualifies you for the year to count as a qualifying one for state pension purposes) is £490 per month.

    source.
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • silvercar
    silvercar Posts: 46,944 Ambassador
    Academoney Grad Name Dropper Photogenic First Anniversary
    For 2018-19, the primary threshold is £702 per month, £8424 per year.

    (This is the max amount to earn on PAYE without having to pay any NI contributions.)

    The lower earnings limit, the amount needed to earn to make the year a qualifying one for state pension is £503 per month, £6032 per year.

    Official source.
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards