I have recently joined the contracting world and have set myself up as a limited company. I have already earned £15k this financial year with my previous employer. How much should I pay myself via PAYE to avoid too much tax/NI until the next financial year. Minimum wage?? Or less??
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New to contracting. Advice needed on PAYE
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Sounds like something you should ask your accountant about.
Have you got one?The Chunt of Chunts. -
Originally posted by ridgersf View PostI have recently joined the contracting world and have set myself up as a limited company. I have already earned £15k this financial year with my previous employer. How much should I pay myself via PAYE to avoid too much tax/NI until the next financial year. Minimum wage?? Or less??
If you are not worried about having enough years pension contributions, then I would advise on just taking dividends up to 5th April 2016.Comment
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Originally posted by Michael at BI Accountancy View PostAs you have earned over the personal allowance already, taking a salary in this tax year would not be the most tax efficient way of operating.
If you are not worried about having enough years pension contributions, then I would advise on just taking dividends up to 5th April 2016 Assuming that you have checked your IR35 status and are outside and therefore entitled to draw dividends.Comment
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Originally posted by LisaContractorUmbrella View PostFTFYwhat more do you want for free advice!
Originally posted by ridgersf View PostHow much should I pay myself via PAYE to avoid too much tax/NI until the next financial year. Minimum wage?? Or less??Comment
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Off-topic posts removed. Do not make sockie accusations, even in fun, in the professional forums. If genuinely suspicious - report to moderator.Down with racism. Long live miscegenation!Comment
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