Salary amount

[Contreras]

I pay myself £7,488, increasing to £7,696 after April.

Woohoo, payrise!!

LOL, you joker.

You'll also pay £1,100 less in dividends before reaching the high rate threshold.

The same earnings and retained profit will see take home pay reduced by about £300/pa* compared to this year.

* according to my calculations, IANAA.

[IR35FanClub]

I agree with Northernlad on this. Thats rubbish. Those odds are way out. And i seriously doubt that an extra few hundred pound in tax would make a difference to whether your investigated.

However it is always worth paying some NI otherwise the year wont count towards your pension contributuions. Not that it amounts to much these days anyway, but better than a poke in the eye

Ill agree... think of a datawarehouse that looks for dodgy things in your submitted accounts. The more dodgy things you have the more likely you are to get to the top of the list of people to take a look at.

For example... and this is speculation... Im presuming for SA if you take more expenses than dividends, no salary, have been doing so for 10 years not 2, theres a sudden drop in your declared income, you are claiming private mileage AND have a company car on your P11d, you have "gifted" £3000 to clients in entertainments fees in the last year and taken several overseas flights despite having no overseas income declared on your VAT and CT returns, you might be getting a visit. I dont know how far they cast the net, but I was there 5 years ago and they were looking into the same software the intelligence agenices use to track terroists. Google Dettica and HMRC and youll get an idea of what they can do. Why.. to increase the tax collected from a given number of tax collectors. I,e efficiency. If I were HMRC id wait till someone had 5-7 years accounts submitted before doing an investigation. Makes it worth the effort .

[northernladuk]

Ill agree... think of a datawarehouse that looks for dodgy things in your submitted accounts. The more dodgy things you have the more likely you are to get to the top of the list of people to take a look at.

For example... and this is speculation... Im presuming for SA if you take more expenses than dividends, no salary, have been doing so for 10 years not 2, theres a sudden drop in your declared income, you are claiming private mileage AND have a company car on your P11d, you have "gifted" £3000 to clients in entertainments fees in the last year and taken several overseas flights despite having no overseas income declared on your VAT and CT returns, you might be getting a visit. I dont know how far they cast the net, but I was there 5 years ago and they were looking into the same software the intelligence agenices use to track terroists. Google Dettica and HMRC and youll get an idea of what they can do. Why.. to increase the tax collected from a given number of tax collectors. I,e efficiency. If I were HMRC id wait till someone had 5-7 years accounts submitted before doing an investigation. Makes it worth the effort .

So you don't really know then.

[d000hg]

I wonder how many get the minimum salary £8,100 p.a from their Ltd and how many go above e.g. around £12K per anum?

Well done, you make a poll which leaves out the option most of us would probably tick (<£8100). And you state that £8100 is the minimum, which it clearly isn't.

Perhaps a moderator could redeem this useless thread.

[d000hg]

I pay myself £7,488, increasing to £7,696 after April.

Woohoo, payrise!!

Personal tax allowance increases, but upper tax limit comes down.

[psychocandy]

Basically its stats, if you are paying the minimum your chances of being investigates is 1 in 7 if you are paying above, the chances are 1 in 20 - or so am told... its up to me at the end, that was just an advise, I just wondered what the majority here thinks? Also if any accountants around to shed some light?

Bulltulip. Who told you that?