2019/2020 Optimum director’s salary

With the start of the new tax year it’s time for directors of their own companies to review their monthly salary. This year I would recommend increasing it from £700 to £715 per month to make use of the increase in the national insurance threshold. The personal allowance has also increased to £12,500 from £11,850 and the higher rate threshold has gone up to £50,000 from £46,350.

For more info on all the new tax rates have a look at this simple summary from Freeagent here