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Just trying to sort out the most effective tax bits and bobs now I'm a ltd company...
lots of places online are saying the following is the best option:
£8040 paye
the rest in dividends
But I've seen some of them mention that they assume no student loan... I think I've got about 10k left to pay on mine - does anyone have any thoughts if that affects it?
Dividends is still the best option with a salary to the national insurance primary threshold. Your student loans will be paid on your total income as per your tax return.
Thanks for clarifying Craig - the site I read for some reason set it £20 below the primary threshold - not sure why? wondering if they were just playing it a little "safe" but I don't see how it would go over that figure?
Student loan going out of my PA makes sense too.
Many thanks
Between lower and primary threshold you still qualify for NI contributions without actually paying any.
I would have hoped you at least need to pay yourself the minimum wage? Or, can you get away with saying you only work part time?
GJP - Member
I would have hoped you at least need to pay yourself the minimum wage? Or, can you get away with saying you only work part time?
No such thing as minimum wage for a company director. It's a salary