Paying director salary 3 days late? problems?

[jonson]

I normally pay directors salary bang on the 19th of every month, but this month due to an amateur hour client paying late, I had to pay on the 21st...will this cause any problems? or is it something I can do..Also I started paying 624 instead of 589 per month now, due to the new regulations

[northernladuk]

Why do you think paying it late would cause a problem? You are a director, you run your own business now....

I would be careful calling your clients amateur with questions like this.

Also why do you need to wait for your client to pay? Do you not have enough money in the bank to pay regardless of when the money comes in? It's only 589.....

[rd409]

3 days, you got to be kidding me. I generally issue cheques for salary, and then deposit those cheques as and when I get time to visit the bank. The cheque should be issued on the salary date, is my general rule of thumb. I know of people who draw salary on quarterly basis as well. Late payments does not matter unless you are going to sue your ltd company for late payment.

[Scrag Meister]

No issue there, Mine fluctuates a few days either side of my usual 15th pay date, depending on what other commitments both financial and time wise I have.

True what NLUK said though, how come you don't have a slush fund in your current account to cover all these eventualities. Where's your warchest?

[Andrew at Boox]

No problem

I agree there's no problem with paying a few days late.

If it was a month late and that meant you only paid yourself 11 months salary instead of 12 months salary in a tax year that would change your Year End Payroll tax return (P35/P14 and P60). But it sounds like this isn't an issue for you.

I do agree with the slush fund comments though.

[doomage]

Late payment of salary? Only a permie would complain about that.

Perhaps you should consider industrial action against your employer...

[dynamicsaxcontractor]

I normally pay directors salary bang on the 19th of every month, but this month due to an amateur hour client paying late, I had to pay on the 21st...will this cause any problems? or is it something I can do..Also I started paying 624 instead of 589 per month now, due to the new regulations

Is this some kind of joke?