Closing Payroll and RTI advice needed ...

[GinaCziffra]

Hi All,

I have question about closing my payroll that I was hoping somebody might be able to help me with.

I have a limited company, and up until October last year, my accountant was making RTI submissions on a monthly basis (for just myself as director in an inside IR35 contract).
When my contract ended in October, I asked my accountant to produce a P45 which they did. Since then no more invoices have gone through the company.

My company's end of year is January, and after my accountant produces final accounts, I plan to close my company.

My accountant is charging hundreds of pounds "admin fee" for just the closure part (this does not include end of year accounts). So given that the company is fairly basic, with no trading activity in the last couple of months
- I intend to do this myself.

I think I am aware of all of the steps required.

The only thing I am unsure of is the payroll closure part, since the payroll was largely an obscured process that the accountant handled.

So my questions are:

(1) How and when do I go about closing the payroll (my leaving date was effectively end of October)?
(2) Do I simply need to make an EPS submission using "Basic PAYE tools"?
(3) Do I need to do this before or after the tax year? or does this need to be after p11ds?
(4) Do I need to wait until End of Year accounts are filed?

I have already downloaded "Basic PAYE Tools" and registered for "PAYE for Employers", so I can now see the RTI submissions that my accountant has made online on the HMRC website.

Apologies if these appear as dumb questions - but I would appreciate any advice offered that could provide some clarity.

Thanks,

[sociopath]

Have you asked your accountant?

[AMH]

Have you asked your accountant?

or phone HMRC - they are quite friendly, if not all are knowledgeable.

[Forbes Young]

Hi All,

I have question about closing my payroll that I was hoping somebody might be able to help me with.

I have a limited company, and up until October last year, my accountant was making RTI submissions on a monthly basis (for just myself as director in an inside IR35 contract).
When my contract ended in October, I asked my accountant to produce a P45 which they did. Since then no more invoices have gone through the company.

My company's end of year is January, and after my accountant produces final accounts, I plan to close my company.

My accountant is charging hundreds of pounds "admin fee" for just the closure part (this does not include end of year accounts). So given that the company is fairly basic, with no trading activity in the last couple of months
- I intend to do this myself.

I think I am aware of all of the steps required.

The only thing I am unsure of is the payroll closure part, since the payroll was largely an obscured process that the accountant handled.

So my questions are:

(1) How and when do I go about closing the payroll (my leaving date was effectively end of October)?
(2) Do I simply need to make an EPS submission using "Basic PAYE tools"?
(3) Do I need to do this before or after the tax year? or does this need to be after p11ds?
(4) Do I need to wait until End of Year accounts are filed?

I have already downloaded "Basic PAYE Tools" and registered for "PAYE for Employers", so I can now see the RTI submissions that my accountant has made online on the HMRC website.

Apologies if these appear as dumb questions - but I would appreciate any advice offered that could provide some clarity.

Thanks,

These arent dumb questions - but Im staggered that you havent asked your accountant to sort this out with the other actions that are necessary when striking off the company eg VAT de-registration (surely they should be doing these for you as a matter of course? we do for all of our clients). You will also need to generate a self-assessment tax return for the tax y/e 5/4/15 even though you are closing your company down as from 31/1/15 and file a P11D like you say.
Graeme Bennett ACMA MBA

[GinaCziffra]

These arent dumb questions - but Im staggered that you havent asked your accountant to sort this out with the other actions that are necessary when striking off the company eg VAT de-registration (surely they should be doing these for you as a matter of course? we do for all of our clients). You will also need to generate a self-assessment tax return for the tax y/e 5/4/15 even though you are closing your company down as from 31/1/15 and file a P11D like you say.
Graeme Bennett ACMA MBA

Thanks for all the responses.

I am aware of all the steps required to close the company down, and yes I did ask the accountant from which I was quoted a huge fee which seems disproportionate to the work involved - since my company is a very basic setup - and much of what I fill will in consist of zeros.

The steps seem straight forward, e.g deregistration for VAT, close payroll, submission of p11ds at end of tax year, DS01 and self assessment.

My company is a very basic setup that hasn't traded since October. After final year accounts are produced, I think the only think left outstanding in terms of payment is corporation tax.

But my question was related to how exactly to close the payroll part.

Perhaps I have been foolish in the route I have embarked upon, so just wanted some advice.

[GinaCziffra]

Thanks for all the responses.

I am aware of all the steps required to close the company down, and yes I did ask the accountant from which I was quoted a huge fee which seems disproportionate to the work involved - since my company is a very basic setup - and much of what I fill will in consist of zeros.

The steps seem straight forward, e.g deregistration for VAT, close payroll, submission of p11ds at end of tax year, DS01 and self assessment.

My company is a very basic setup that hasn't traded since October. After final year accounts are produced, I think the only think left outstanding in terms of payment is corporation tax.

But my question was related to how exactly to close the payroll part.

Perhaps I have been foolish in the route I have embarked upon, so just wanted some advice.

I spoke to HMRC, so I think I have an idea of what is involved now. Thanks.