Would being on an emergency tax code mean no NI is taken until its sorted ?
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No it wouldn't -
must be a mistake then on my payslip
cheersComment
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As a director you don't pay any NI until you reach the threshold. I'm guessing that's why.Will work inside IR35. Or for food.Comment
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Aye or do what I do - pay NI monthly , then work out the difference at the end of the year and either scramble it back or send them a cheque. Saves overspending trouble.Serving religion with the contempt it deserves...Comment
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Cheers matey googled and found this and it explains it,Originally posted by VectraMan
http://www.buzzacott.co.uk/publish/3...50SJ/index.asp
Last edited by Ivor1; 25 October 2006, 18:10.Comment
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Thats a choice you can makeOriginally posted by VectraManComment
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No to sure on what the choices are even after reading the document, whats the best way to approach it ?Originally posted by ASBComment
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You can choose to calculate it normally. If you pay yourself a regular salary then why not.
The directors rules are to stop abuse from paying irregular amounts and hitting threasholdsComment
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If you want to avoid paying it for as long as possible then apply the rates to the amount in excess of the annual threshold (5035 I think). This means you'll pay a little more monthly once the threshold is reached - but the same over the year.Originally posted by Ivor1
Alternativley average salaries and apply the rates to that. This can lead to over/under payments and a balancing payment may be required.
In any event at the end of year a balancing payment can be required if there have been wild wings in income.
I think these may help
http://www.hmrc.gov.uk/nitables/ca44.pdf
http://www.hmrc.gov.uk/ebu/ni2003.pdfComment
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