Salary Question

[DaveB]

OK, due to an administrative oversite/cockup (I know, get an accountant, are you cut out to be a contractor yada yada yada) I forgot to give myself a payrise this year to allow for the change in NI thresholds. (£7068 11-/12 to £7488 12/13)

Can I pay myself a bonus at year end to make up the differance and take me up to the 12-13 threshold or is it too late to do anything about it?

[Nixon Williams]

OK, due to an administrative oversite/cockup (I know, get an accountant, are you cut out to be a contractor yada yada yada) I forgot to give myself a payrise this year to allow for the change in NI thresholds. (£7068 11-/12 to £7488 12/13)

Can I pay myself a bonus at year end to make up the differance and take me up to the 12-13 threshold or is it too late to do anything about it?

Assuming that the NIC is calculated on a director's basis, ie cumulative, then you pay a 'bonus' and the tax and NIC should be nil, assuming that you are on a regular tax code!

[DaveB]

Assuming that the NIC is calculated on a director's basis, ie cumulative, then you pay a 'bonus' and the tax and NIC should be nil, assuming that you are on a regular tax code!

Thanks, thats what I thought. Coding issues to be resolved!