Help -Fee recieved as an Individual, not via Limited question
Thanks in advance for reading this and I've searched the forum and not found some comparable insight, any advice on the following is gratefully recieved:
I took on a contract about a year ago where they paid me as an Individual, not through my Limited Company, which it should have. This amount came from a North American IT client and paid me in Euros. I had a seperate Euro-recieving account to recieve the fee.
I've been sick with long-Covid and haven't touched the amount, now obviously need to sort out how to do the accounting for this.
Can I transfer it to my Limited and amend those entries presently? That would mean transferring sums from a personal account to my company. Or do I need to declare it on self assessment seperate to income?
The other info I found was this: https://www.ey.com/en_uk/tax/what-ar...-gains-letters
Any insights appreciated.
I took on a contract about a year ago where they paid me as an Individual, not through my Limited Company, which it should have. This amount came from a North American IT client and paid me in Euros. I had a seperate Euro-recieving account to recieve the fee.
I've been sick with long-Covid and haven't touched the amount, now obviously need to sort out how to do the accounting for this.
Can I transfer it to my Limited and amend those entries presently? That would mean transferring sums from a personal account to my company. Or do I need to declare it on self assessment seperate to income?
The other info I found was this: https://www.ey.com/en_uk/tax/what-ar...-gains-letters
Any insights appreciated.
