Salary level?

[Untouchable1]

Hi,

Returned to contracting after a long hiatus. What are people setting their salary to these days?

My accountant suggested 1,047.50, just wanted to check with you guys though.

Another consideration, is that I already had an income of 38k on a self-employed basis in this tax year, before starting the limted company.

[Snooky]

Assuming outside IR35, the accepted wisdom used to be that you set it to the point at which you qualify for the basic state pension without actually paying NICs (LEL I think?)

No idea if that's true any longer.

[Eirikur]

If you already had a PAYE income of 38k this tax year, you should not take any salary until the new tax year.

[northernladuk]

If you already had a PAYE income of 38k this tax year, you should not take any salary until the new tax year.

Hope to god his accountant pointed this out else he needs to go find a new one.

[Untouchable1]

Hope to god his accountant pointed this out else he needs to go find a new one.

They did not.....

[TheDude]

Hope to god his accountant pointed this out else he needs to go find a new one.

Unless of course they need the money...

[WTFH]

Unless of course they need the money...

Or weren't made aware because their client didn't tell them. I've yet to meet an accountant that can read minds. Some can barely read books.