I sent my time sheet and the agency processed the payment as PAYE, however I already got my LTD can they stop the payment and change it to the LTD
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changng from PAYE tp LTD company
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Originally posted by abobutta View PostI sent my time sheet and the agency processed the payment as PAYE, however I already got my LTD can they stop the payment and change it to the LTD"I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank... -
Originally posted by cojak View PostCall the agency and ask them...'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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If the agency has already set you up as their employee and processes payment, you would need a new contract between them and your limited company to replace the one in existence.
I'd suggest that if you were investigated, HMRC would have a pretty good case for showing that you were an employee if you suddenly switch (effectively mid-contract) from being an employee to not.Comment
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Originally posted by TheFaQQer View PostIf the agency has already set you up as their employee and processes payment, you would need a new contract between them and your limited company to replace the one in existence.
I'd suggest that if you were investigated, HMRC would have a pretty good case for showing that you were an employee if you suddenly switch (effectively mid-contract) from being an employee to not.
so if I was already paid from the company paye how would I change to ltd co without the inland revenue pulling me up?Comment
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Originally posted by quag88 View Postso if I was already paid from the company paye how would I change to ltd co without the inland revenue pulling me up?
If you avoid there being an investigation, then you get away with it. If you don't, then you'll need a very good explanation as to why you changed.
Unless you are going to declare yourself inside IR35 anyway, in which case HMRC won't care because they are getting nearly the same amount in tax anyway.Comment
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Originally posted by TheFaQQer View PostIf the agency has already set you up as their employee and processes payment, you would need a new contract between them and your limited company to replace the one in existence.
I'd suggest that if you were investigated, HMRC would have a pretty good case for showing that you were an employee if you suddenly switch (effectively mid-contract) from being an employee to not.Originally posted by TheFaQQer View PostLuck.
If you avoid there being an investigation, then you get away with it. If you don't, then you'll need a very good explanation as to why you changed.
Unless you are going to declare yourself inside IR35 anyway, in which case HMRC won't care because they are getting nearly the same amount in tax anyway.Comment
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Originally posted by quag88 View Postso how would you advise I proceed with this? change to ltd co and declare on the IR35 I have switched from paye to limited company?
Find out what IR35 is, ASAPComment
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Originally posted by quag88 View Postso how would you advise I proceed with this? change to ltd co and declare on the IR35 I have switched from paye to limited company?
Get yourself an accountant and talk it through with them, there are a few helpful ones here. You will also need to get your contract reviewed for IR35 compliance and they can advise if you have burned your bridges or not.
Good luck!Free advice and opinions - refunds are available if you are not 100% satisfied.Comment
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