Hi All,
I've been away from contracting for about 6 years. A bit of a wilderness period where I never made enough to pay tax.
Now that I'm back & earning (since August 2013) I have discovered that I should have been making RTI notifications for any salary I have paid myself.
I have an accountant & they never told me this & I don't remember seeing any letters from HMRC.
Don't imagine that'll cut any ice. Anyway, what to do? Are the HMRC going to get medieval on my ass?
The amount of money (irregular dates, differing amounts) I have taken from the company since Apr 13 is just enough to pay tax on & no more.
I'm thinking that what I might do is declare all the money taken so far as a 'loan', borrow the total sum from my father, pay it into the company thus squaring my 'debt' to zero, then pay it as salary to myself in one lump sum and say "Hey, HMRC, I've just paid myself, how do I do this RTI thing".
I'm not trying to swerve anything, I just don't want to be poking the HMRC beehive with a stick.
Thanks!
I've been away from contracting for about 6 years. A bit of a wilderness period where I never made enough to pay tax.
Now that I'm back & earning (since August 2013) I have discovered that I should have been making RTI notifications for any salary I have paid myself.
I have an accountant & they never told me this & I don't remember seeing any letters from HMRC.
Don't imagine that'll cut any ice. Anyway, what to do? Are the HMRC going to get medieval on my ass?
The amount of money (irregular dates, differing amounts) I have taken from the company since Apr 13 is just enough to pay tax on & no more.
I'm thinking that what I might do is declare all the money taken so far as a 'loan', borrow the total sum from my father, pay it into the company thus squaring my 'debt' to zero, then pay it as salary to myself in one lump sum and say "Hey, HMRC, I've just paid myself, how do I do this RTI thing".
I'm not trying to swerve anything, I just don't want to be poking the HMRC beehive with a stick.
Thanks!
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