Since changes to National Insurance bands for employees, it is marginally better for directors to have a salary up to the Personal Allowance rather than the lower amount we previously advised (below the employer’s secondary National Insurance threshold).
This is the case regardless of whether Employers National Insurance ends up being payable because the Employers Allowance is not available (eg. already used on other employees or ‘one-man’ companies).
Therefore, if you are currently paying yourself £755 per month, we suggest this is increased to £1045 per month from April 2024. If paying weekly it’s £240 per week.
