2012-13 Planning, Tax Rates.

[prozak]

The other thread prompted me to do some digging but haven't found everything I was after.

Just planning for next year.

CT is 20% for us small companies.
The personal allowance is 8,105.
The basic rate of tax is up to 34,370


Giving again an amount of £42,475 to be under if you don't want to start paying more tax on your dividends. So not much change from this year except potentially being able to take a higher salary but pay lower dividends.

What I couldn't find was the NI rates for 2012-13. Anyone got that info?

[northernladuk]

What I couldn't find was the NI rates for 2012-13. Anyone got that info?

Isn't that because they declared in the 2011 budget they will be looking at combining it?

Budget 2011 - tax changes : Directgov - Newsroom

Tax simplification
To dramatically simplify the tax system, the government will consult on options for merging the operation of National Insurance and Income Tax. Any change will be complex and will involve public consultation and take a number of years to complete.

[Clare@InTouch]

The other thread prompted me to do some digging but haven't found everything I was after.

Just planning for next year.

CT is 20% for us small companies.
The personal allowance is 8,105.
The basic rate of tax is up to 34,370


Giving again an amount of £42,475 to be under if you don't want to start paying more tax on your dividends. So not much change from this year except potentially being able to take a higher salary but pay lower dividends.

What I couldn't find was the NI rates for 2012-13. Anyone got that info?

Hector has it: HM Revenue & Customs: National Insurance Contributions

[Craig@Clarity]

and here is the main page for other rates if you need it HM Revenue & Customs:

[northernladuk]

and here is the main page for other rates if you need it HM Revenue & Customs:

To late... you fail! Serves your right from trying to beat Claire while you are in the Pub on a 3 year old blackberry.

[Craig@Clarity]

Ohhh, she's going to love you for mis-spelling her name!!!

[prozak]

Hector has it: HM Revenue & Customs: National Insurance Contributions

ahh.. thanks.. wonder why google couldn't get me to that page... user error I guess.

so it seems £7,592 is the pay rate to avoid NI.

[ASB]

HM Revenue & Customs: National Insurance Contributions

[prozak]

Ohhh, she's going to love you for mis-spelling her name!!!

ooooh.. lets not go there... my wife is a claire

That is the right way to spell it apparently!

[Craig@Clarity]

ahh.. thanks.. wonder why google couldn't get me to that page... user error I guess.

so it seems £7,592 is the pay rate to avoid NI.

Correct for employees NIC but there will be a bit of employers NIC to pay. To avoid all NIC, the amount is £7,488 (£144 x 52)