My income has now dropped to £30,000 with £10,000 expenses, so I would like to know if I would still save more through keeping the limited company, provided I pay myself under the allowance so as not to pay NIC?
LIMITED COMPANY:
£30,000 (earnings) - £10,000 (expenses) - £12,500 (salary and dividend) = £7,500
19% of £7,500 = £1,425 tax to pay
£1,425 total to pay
SELF ASSESSMENT:
£30,000 (earnings) - £10,000 (expenses) - £12,500 (salary and dividend) = £7,500
20% of £7,500 = £1,500 tax to pay
NI = roughly £2000
£3,500 total to pay
Is this roughly correct?
Thanks!
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