Giant Powerhouse and P60

[buffdaddy]

Hi All,

I have been with Giant for 6 months now (i am a newbie to the UK and new to contracting since September 2006). Its now the new financial year.

I understand that P60 is the yearly tax return document. Do I get a P60 stating howmuch income i recieved (as minimum wage and dividends?) in the 2006 financial year?

Also i understand I do not have to pay any tax on the dividends unless i recieved a sum larger than around £38000 in the last financial year (which i didnt since i was only in the uk for 6 months in the last financial year).

I look forward to the replies.

cheers

[Ivor1]

Yeah they will send you a P60, probably wrong details on it but they will send you one.

[Gonzo]

The P60 is produced annually for employees in this country and shows PAYE earnings and PAYE Tax and National Insurance deductions (and a few other things like maternity / paternity pay, tax credits).

It will not include other income such as dividends or interest received.

I don't use such a scheme so I am not sure how your income through GIANT is all structured as to what is PAYE and what is dividends. That is quite important in respect of the P60.

[Ivor1]

Your P60 from GIANT will just show pay and not dividends. Usually they will put a image of the P60 with your details on your part of the portal but you cant use that for official things you will have to await the paper one.

[buffdaddy]

Thanks for the replies.

So what official documentation do they produce for the Dividends?

I soon will need official documentation from employer (i.e Giant) to prove my earnings for HSMP visa purposes.

cheers,

[AnotherIan]

I'm seeing a lot of Giant hate here, and as a Giant customer I'm curious.
I've just set up a ltd via Giant and like the portal. I'm annoyed they haven't sorted out automated bank account creation. It's comical that I've already received my first company spam from HSBC offering preferential business rates.

Anyway, I quite like them but I shop at Tesco's for the same wrong reasons, so keeping in mind I'm buying a property at the moment, what's the best way to move? I'd go with SJD (sp?) as they seem to get huge support.

I'm now ltd, and filing the relevant documents, so it would just be a case of transfering those details I assume? I suffer from formaphobia, I panic at the thought of filling out a form; they're designed to be intimidating and I hate it I can balance a few billion to the nearest quid across various asset classes, but consumer finance fcks me up.

[Waldorf]

Giant get a slating because they are cr@p! I was with them and got out a few months ago, went with nixon williams who set me up very quickly with only a few things to sign, they even filled all the forms in for me!

Giant's ltd co option is very pricey and not worth the money.

[Ivor1]

Thanks for the replies.

So what official documentation do they produce for the Dividends?

I soon will need official documentation from employer (i.e Giant) to prove my earnings for HSMP visa purposes.

cheers,

Nothing official, but on the GIANT portal you should be able to access something called 'Dividend Detail' which shows the each div payment and then tax credit, use this for your Self Accessment.

[itcontractor07]

Your payslips which show the complete detail of your pay and dividend should be sufficient for showing your income for HSMP purposes, ofcourse substantiated with you bank statements.

Cheers

[buffdaddy]

Nothing official, but on the GIANT portal you should be able to access something called 'Dividend Detail' which shows the each div payment and then tax credit, use this for your Self Accessment.

Yeah i know the Dividend information is on the portal. But what if i need to prove my income from company dividends (and not from investments) as part of my primary job. What is the best way to do this?

Aren't dividends linked in with HMRC somehow?