Annual Payrun

[dmini]

From some of the stuff I've looked at, it suggests I can do an annual payrun, & hold on to tax and NI till the last minute handing over at year end. Sounds good, but Inland revenue have denied all knowledge, and my accountant hasn't come across it either
There are odd links on the web, including comments from Simon and Darren and respective websites, suggesting some people do it, but nothing about criteria etc. Hectors site is no better!
Can anyone help???

Thanks

[ASB]

From some of the stuff I've looked at, it suggests I can do an annual payrun, & hold on to tax and NI till the last minute handing over at year end. Sounds good, but Inland revenue have denied all knowledge, and my accountant hasn't come across it either
There are odd links on the web, including comments from Simon and Darren and respective websites, suggesting some people do it, but nothing about criteria etc. Hectors site is no better!
Can anyone help???

Thanks

If you only want to pay yourself once a year there is no problem. But it's best to speak to the accounts office and tell them. THen they stop sending you stupid reminders.

If you want to pay yourself a salary more frequently than that and only pay them one a year then that is a good way of getting into trouble.

[oraclesmith]

I paid myself three times last year - you can pay yourself when you like - you are a Director after all. But I make sure I sent the cheque for tax and NI into the Revenue straight away.