Basic Tax Question

[LisaContractorUmbrella]

So I could get my accountant to set up a payroll & pay a fixed amount every month or, alternatively, just pay a lumps sum at the end of the tax year?

If your earnings are taken monthly then your PAYE liability should be calculated and paid monthly

HTH

[wurzel]

If your earnings are taken monthly then your PAYE liability should be calculated and paid monthly

HTH

Thanks Lisa. I normally have several contracts a year - some IR35 caught, some not & this seems to complicate the issue somewhat.

[LisaContractorUmbrella]

Thanks Lisa. I normally have several contracts a year - some IR35 caught, some not & this seems to complicate the issue somewhat.

Hi Wurzel

If that's the case then, when your contract was outside IR35, you would just reduce the salary that you pay yourself through PAYE. If you have a decent contractor account they should be able to guide you on the most sensible way forward considering your personal circumstances. You are right though - it's rarely straightforward