Avoid paying employers NI on car benefit?
Discussion
I've got a bit of a unique (to me) situation coming up next financial year in that I have a couple of pensions that will start paying out when I reach 60 in September.
I'm going to use these to reduce the money I take out of the company as salary and thereby try and avoid paying any employers NI in this year.
I have an EV from the company which for next year will go up to 3% BIK or £1267 which is liable for employers NI.
My question is, if I reduce my company salary so it is £3733 per year will that, combined with the BIK, leave me owing no personal tax or NI and the company owing no employers NI? My thinking is the combined payments will be below the employers NI threshold, but I'm struggling to find confirmation that I can avoid paying NI on the car benefit part in this manner.
The rest of my personal allowance will be taken up by my (NI-free) pensions.
I'm going to use these to reduce the money I take out of the company as salary and thereby try and avoid paying any employers NI in this year.
I have an EV from the company which for next year will go up to 3% BIK or £1267 which is liable for employers NI.
My question is, if I reduce my company salary so it is £3733 per year will that, combined with the BIK, leave me owing no personal tax or NI and the company owing no employers NI? My thinking is the combined payments will be below the employers NI threshold, but I'm struggling to find confirmation that I can avoid paying NI on the car benefit part in this manner.
The rest of my personal allowance will be taken up by my (NI-free) pensions.
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