VetBoss logo
VetBoss Sign inRegister for FREECompetitionContact Us
Powered by Google

Director minimum salary levels 2017-18

Many director shareholders take a minimum salary and any balance of remuneration as dividends. This tends to reduce NIC, and, in some cases, Income Tax.

The planning strategy is to pay a salary at a level that qualifies the director for State benefits, including the State Pension, but does not involve payment of any NIC.

For 2017/18 the NIC rate is set at 0% for annual earnings in the range of £5,876 to £8,164 inclusive.  Earnings in this band range qualify for NIC credit for State benefit purposes. At £112.99 per week (£5,875 p.a.) no NIC credit is obtained for State benefit purposes. At £157.01 plus per week (£8,165 p.a.) NICs start to be paid at the rate of 12%.

Directors, who are first appointed during a tax year, are only entitled to a pro rata annual earnings band which depends on the actual date appointed. Care needs to be taken in these circumstances not to incur an unexpected liability to pay NIC.

Directors resigning during the year still have the full annual earnings band quoted above, so care is needed to ensure that earnings for the whole tax year are within the range of £5,876 to £8,164.

Directors considering their planning options for the first time are advised to take professional advice as there are a number of considerations to take into account when setting the most tax/NI efficient salary. We, of course, would be delighted to help.
This article was kindly provided by Charnwoods Accountants and Business Advisors.

See the complete article

Advertise VET Jobs for

FREE Practice Website Deal

Get the VetBoss Deal

for a competitive edge on everyday products

Get The VetBoss Deal for


Royal Canin




SAVE 20% JUST FOR VetBoss Members




Get the VetBoss Deal

for a competitive edge on everyday products








wishing you a happy and prosperous 2014



Get The VetBoss Deal for a FREE iPad Air





Get The VetBoss Deal with THE BEST Deal on Pestigon (fipronil)


One of the many benefits of being a VetBoss member is access to exclusive deals on a range of everyday products...


This month we're offering VetBoss members a FANTASTIC deal on Pestigon.  Pestigon contains Fipronil and is available in a range of practical sizes for dogs and cats.  Don't let your flea product sales slip away - boost your margins.  Buy any 2 packs and get 3 packs FREE!


CLICK HERE for more details


To take advantage of this cracking deal please contact your Norbrook representative and remember to quote as this offer is exclusively available to VetBoss members and THE BEST offer available.


Thank you to Norbrook for offering this great deal for VetBoss members


Get a FREE iPad Air on all orders over £7,000!

 FREE iPad Air with all orders over £7,000

Thinking of going digital or do you desperately need a new ultraound scanner, or would you just really like a shiny, new iPad Air?  Well we've teamed up with our friends at BCF Technology to bring you THE BEST DEAL on all of their kit!


Simply quote when you place an order with BCF Technology and get a FREE iPad Air when you spend over £7,000.


As a vet in practice I have expereinced first hand how valuable having a user friendly system can be but should you need some convincing BCF Technology have also developed a cost calculator to help you see how much additional revenue you could generate.

 Ultrasound ROI calculatorX-ray ROI calculator

Remember to quote

Full details of the VetBoss deal

FIND Your Next VET


Browse CVs of Vets Looking For Jobs



Follow us:
VetGrad facebook
VetGrad twitter
Share this page: