Paying Personal Allowance for the year

[ASB]

dont mind paying NI - how much will I end up paying over the year if I pay myself £6k a year? At what percentage is NI charged?

Also will I qualify for a state pension contribution year by paying myself this amount?

1) Click the link I posted. Dont' forget the employer and the employee are both charged.

2) Yes. You will also qualify for a state pension year if you pay yourself between the LEL and the primary threshold which result in a nil NI contribution.

[pmeswani]

dont mind paying NI - how much will I end up paying over the year if I pay myself £6k a year? At what percentage is NI charged?

Also will I qualify for a state pension contribution year by paying myself this amount?

I can't remember the amount, you would need to check the link that has been already posted, or speak to your accountant. From what I understand, you would qualify for the same amount of pension entitlement if you paid yourself £4k than if you paid £6k. If you want a higher pension contributions, you may have to pay a further £6k or £7k on top of the existing £6k to make it worth while. (can't remember the exact amount as the quote I received resides on my computer at home).

[alfatech]

Thanks for the advice chaps!

I think I will pay myself just 6k and if I recieve a letter from HM that I havn't made enough NI pension contributions through the tax year to qualify, I will make the one-off payment to make up the shortfall.