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Hi.I'm afraid that your impression is wrong. Salary is taxable as and when it is paid depending on the allocation of personal allowances. As a director, any NIC you pay can either be paid throughout the tax year or in the final few months of the tax year.Assuming you are under 65, you are entitled to a personal allowance of £10,600 which can be used against your PAYE income sources. Your accountant should call the tax office and have your allowances distributed between the three sources.It is normal for allowances to be used as far as is possible against pension income first as pensions will normally be paid to you for the rest of your life. From my calculations, you have £2,873 in unused allowances (£10,600 - £7,727) which can be used against your small pension of £478 per annum and your company salary of £2,400 per annum.I hope this helps but let me know if you have any further questions.
I was under the impression that I could earn up to 44000 before I pay tax on any of my earnings as a limited company. Is that not the case?