With the new tax year almost underway, there has also been a change in the National Insurance limit.
The new monthly earnings in order to gain a state pension year, yet pay no tax or national insurance, is increasing from £663.00 to £672.00 per month.
This means that directors who take dividends and earn a monthly salary under the tax and N.I. threshold, need to have their salary increased to this amount of £672.00 from April 2015.
If you would like any help with this or any further information about the 2014/15 tax year, then please contact Kayleigh on 07525 421 454.