Another PAYE question

[rich2k]

Sorry if this question has been asked a million times but just been reading through all the hmrc sites and have got myself quite confused on what i should be filling out since creating my ltd company. But my accountant is on holiday so thought id put the question to you awesome people!

So the situation is this i worked under an umbrella company until end of july this year and then set up a ltd company. Which i have been using up until now.

My accountant set up PAYE but there has been a delay with this for some reason so we are still chasing the PAYE reference.

Ive just been trying to work out what i will need to have him prepare this year and just wanted some clarification.

I read that an employer annual return needs to be completed by may 19th, would this still need to be done even though i am still waiting for the PAYE reference? Once the reference arrives would that mean i would need to submit this return and would i have to fill out monthly p11's back until the company was formed?

I then understand my self assessment forms will arrive around april and then i need to get my accountant to return those? Would my self assessment (student loan, tax etc) be effected because i worked april to july with the umbrella company?

Then the final deadline would be my corporation tax company return around the time that i started trading?

Does all this sound about right, im paranoid ill miss something and with reading that it is the directors job to ensure these are all returned thought id double check

Sorry to bore you, and i have read all the guides on the right hand side and just wanted to check i have understood correctly.

Mant thanks

[Sockpuppet]

Sorry if this question has been asked a million times but just been reading through all the hmrc sites and have got myself quite confused on what i should be filling out since creating my ltd company. But my accountant is on holiday so thought id put the question to you awesome people!

So the situation is this i worked under an umbrella company until end of july this year and then set up a ltd company. Which i have been using up until now.

My accountant set up PAYE but there has been a delay with this for some reason so we are still chasing the PAYE reference.

Ive just been trying to work out what i will need to have him prepare this year and just wanted some clarification.

I read that an employer annual return needs to be completed by may 19th, would this still need to be done even though i am still waiting for the PAYE reference? Once the reference arrives would that mean i would need to submit this return and would i have to fill out monthly p11's back until the company was formed?

I then understand my self assessment forms will arrive around april and then i need to get my accountant to return those? Would my self assessment (student loan, tax etc) be effected because i worked april to july with the umbrella company?

Then the final deadline would be my corporation tax company return around the time that i started trading?

Does all this sound about right, im paranoid ill miss something and with reading that it is the directors job to ensure these are all returned thought id double check

Sorry to bore you, and i have read all the guides on the right hand side and just wanted to check i have understood correctly.

Mant thanks

If you don't have a PAYE ref you can't do a PAYE return. You should get it for April though.

At company year end you'll have to do Annual Return. You don't have to pay CT or submit accounts until 9 months after that (I usually do mine 2-3 months after YE). So if you YE is Sept then you can do accounts the following June.

Just list umbrella on self assessment form as an employer, won't make any changes assuming they charged you the correct amount of tax (99.99% likley they will have).

[rich2k]

Cheers for the reply sockpuppet

Once i do get the PAYE reference should i be filling these P11's and things out each month?

Also im going to be paying student load on dividends would this paid with the PAYE stuff or would it go in my self assessment

Thanks again

[Clare@InTouch]

Cheers for the reply sockpuppet

Once i do get the PAYE reference should i be filling these P11's and things out each month?

Also im going to be paying student load on dividends would this paid with the PAYE stuff or would it go in my self assessment

Thanks again

A payroll program will keep track of the deductions without you needing to fill in a P11. Check out Moneysoft for a cheap and good option. Or, your accountant will do it it's part of his service.

Student loans would go on your tax return if your PAYE is below £15,000.

[Greg@CapitalCity]

Once i do get the PAYE reference should i be filling these P11's and things out each month?

There is nothing you need to file within the tax year to the HMRC for payroll purposes. Your PAYE return due by 19 May 2012 will capture the entire years payroll, and will send it across to the HMRC in one lump of data.

[rich2k]

There is nothing you need to file within the tax year to the HMRC for payroll purposes. Your PAYE return due by 19 May 2012 will capture the entire years payroll, and will send it across to the HMRC in one lump of data.

Much appreciated Greg,

Thanks all

[Sockpuppet]

There is nothing you need to file within the tax year to the HMRC for payroll purposes. Your PAYE return due by 19 May 2012 will capture the entire years payroll, and will send it across to the HMRC in one lump of data.

Not even nil returns or payment quarterly on any tax due? Unless its changed that could still be considered "filing".

[Greg@CapitalCity]

Not even nil returns or payment quarterly on any tax due? Unless its changed that could still be considered "filing".

Come on - seriously?

OK.....@rich2k, and if you do not need to make any PAYE/NI payments throughout the year, you should tell the HMRC there are no payments due (otherwise they will write you a letter asking where their PAYE/NI payment is). If very easy, you can do this online at HM Revenue & Customs: No PAYE/NICs payment due - just put a reminder in your calendar every quarter.

Alternatively, call your HMRC PAYE office and ask to be put on the annual PAYE scheme. Then they will only expect to receive a payment once a year from you, and if you file your annual PAYE return before 19 April, there will be no need to notify them of a nil payment because they will already know through the PAYE filing.

[rich2k]

thanks for the response greg.

Im still waiting for my PAYE reference to come through, my accountant is chasing this up?

would i need this before i tell them that i want to be yearly PAYE?

Cheers again

[Greg@CapitalCity]

would i need this before i tell them that i want to be yearly PAYE?

Yep, wait until the reference comes through, and then switch onto the annual scheme.