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My DOB is 13-02-1961
I did not receive any jobseekers allowance or state benefit.
I also am trying to work out what my monthly salary would be for the first three months because it is then I reach the threshold.
what happens if I have directors loans to the company can I set against thetax on a monthly basis or do I have to wait till the year end?
Sorry I saw this late yesterday.. the company owes me money as I set up this company and it was self funded.. obviously over time we will get this back in repayment of director loans..
I have also been advised as a director in a company my national insurance is likely to be held back to later on due to benefits etc.. therefore what will this look like for my actual salary now?
Thanks.If you borrowed the money to lend to the company you may be entitled to tax relief for the interest you pay to the lender which can be claimed through your tax code. You can read about the criteria for claiming business loan interest tax relief here. There are two ways to work out director's NIC. The first is as follows:June 2014 to February 2015 NIC £349.34 per monthMarch 2015 £NIC £390.60The second method which is specifically for directors, is as follows:June 2014 NIC £0July 2014 NIC £152.16August 2014 to January 2015 NIC £480.00 per monthFebruary 2015 NIC £422.50March 2015 NIC £80.00