The optimum salary for a contractor to pay themselves in the current tax year is dependent on their overall income throughout the period.
In the instance there is no other income to be considered, it is generally recommended that salary is paid in line with the Secondary National Insurance threshold which is currently £758 per month (22/23).
<p>The optimum salary for a contractor to pay themselves in the current tax year is dependent on their overall income throughout the period.</p><p>In the instance there is no other income to be considered, it is generally recommended that salary is paid in line with the Secondary National Insurance threshold which is currently <strong>£732 per month</strong> (20/21).</p>
%20(1).webp)
Get a free accounting consultation to discuss your company accounting needs
Book a free 20 minute call with an accountant to talk though starting, registering or switching your company.
- Book a time online instantly
- Registering for VAT
- Self assessment
- Sole trader vs limited company
- Dividends and personal tax
- Registering your company
.webp)