Hello, hope you're doing well everyone.
I'm moving abroad in a few months which will lead to me closing down my LTD company. I already took the salary from April (£1,047.50) and have about £15,000 left (after paying corporation tax). I would like to use the remaining cash to pay myself a salary up to the personal allowance in order to save CT and also get one year of NI contributions.
My understanding is, that such a high salary at the beginning of the the tax year will cause a big tax bill (since HMRC is going to assume that I'll get this salary each month for the rest of the year). Is there a way to avoid getting overtaxed? Assuming this will be the last payslip (final FPS), will HMRC account for that and not overtax me?
Is that legal for taking the full salary in a single month and would I get into trouble?
Thank you
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