I've been contracting for a while but have recently gone from just paying myself in dividends to paying myself minimum wage plus dividends.
I used to get a yellow payment book each year which I simply filled in 'nil' each month and sent off the slip. Now I don't get sent a yellow book each year but I registered to look after my tax affairs online via the HMRC site.
I have the figures I need to pay broken down: my income tax, my NIC and employers NIC. Couple of questions:
1) Do I still just pay my income tax by doing my self assesment and sending HMRC a cheque when they send me a nasty letter?
2) Do I pay my employees NIC seperate to employers NIC? Should I go on the HMRC site and pay employees NIC from my own bank account, then pay the employers NIC from the company bank account? Or can I pay them in one lump sum somehow?
Thanks very much for any advice...
I used to get a yellow payment book each year which I simply filled in 'nil' each month and sent off the slip. Now I don't get sent a yellow book each year but I registered to look after my tax affairs online via the HMRC site.
I have the figures I need to pay broken down: my income tax, my NIC and employers NIC. Couple of questions:
1) Do I still just pay my income tax by doing my self assesment and sending HMRC a cheque when they send me a nasty letter?
2) Do I pay my employees NIC seperate to employers NIC? Should I go on the HMRC site and pay employees NIC from my own bank account, then pay the employers NIC from the company bank account? Or can I pay them in one lump sum somehow?
Thanks very much for any advice...
Comment