PAYE Basics & HMRC - how does it work?

[samay007]

I have the below query please...

I'm a contractor having a limited company. I do not want to take a pay (Salary) without making some contribution to tax man and NI contributions. So I decided to have my Salary as 15000 GBP pa.

My accountant send pay slips and the deductions for my tax and NIC.

I know that we need "Account Office Reference" number and Employee PAYE reference of my limited company to make payments each month. (I pay separate for Corporation Tax, SA, VAT)

Its very hard to keep track of what I need to pay each month to HMRC or how much outstanding payments I have to HMRC (Previously HMRC send letters or something yellow slips I have heard of...)

Is there a way to check my outstanding payments to HMRC or where can I track/ or simple software to keep me update? Now I see there is ONLY one payment for tax and NI contributions - Can someone confirm please? Thanks

[LondonManc]

Have you asked your accountant about this? It's all fairly basic year one stuff that is between you and them and we can only guess as to your exact circumstances.

[northernladuk]

Get a better accountant that uses FreeAgent. All that is done at the press of button.

[VectraMan]

You can use HMRC online to see the outstanding amount, what you've paid and when you have to pay it.

[samay007]

You can use HMRC online to see the outstanding amount, what you've paid and when you have to pay it.

Thanks all for your replies. I have my accountant provide all the details when i ask, but I do not see them on HMRC online to see the outstanding amount and the payment history, whenever I make my monthly payment, I do not see any kind of receipts and the ONLY proof is my company bank statement.

[Michael at BI Accountancy]

Get a better accountant that uses FreeAgent. All that is done at the press of button.

+1

[VectraMan]

Thanks all for your replies. I have my accountant provide all the details when i ask, but I do not see them on HMRC online to see the outstanding amount and the payment history, whenever I make my monthly payment, I do not see any kind of receipts and the ONLY proof is my company bank statement.

Do you have the PAYE service on HMRC online? It wasn't hard to set up.

[samay007]

Do you have the PAYE service on HMRC online? It wasn't hard to set up.

Thanks VectraMan, I'll look into this....

[Jeremiah@RHJAccountants]

Your accountant can send you the information of what you will pay HMRC for tax and ni and this will show all due dates etc

If you are on the same monthly wage it is very easy to show this for the full year in advance.

We do this and i am sure most other accountants do as well.

This is bread and butter for an accountant so you may want to look elsewhere if they can not give you advice on this.

As for HMRC online you just need to activate the service for PAYE and you can see all payments made and due.