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Hi All,

Just set up as a limited company and have a meeting with my accountant on Tuesday but just trying to work out the NI payed by the employer (me)

In a nut shell I have full time job with amazing hours paying me £36k a year. These hours have enabled me to set up my own limited electrical company. Now to make it easy I want to pay myself £1000 a Month meaning a total salary from both jobs of £48k which is under the 40% tax band.

This is my understanding - as a director I have to pay 20% tax on what I pay myself and 12% NI. I’m also reading I have pay employers NI of 13.8%. Obviously from my main job I go above the NI threshold so I have to pay NI. If the above is true I’d have deductions of 46% meaning I’d have to pay myself roughly £1900 to get my desired £1000. That’s outrageous if true.

Can anyone in a similar position confirm

Thank you
 

SJD

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