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PAYEE and not taking a salary

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    #11
    Originally posted by Alison545 View Post
    I have the money, but the salary won't match the transactions, I paid like £200, £400 instead of £771.
    In your books will be an account labelled "Alison545". When a salary payment is due, it will contain the amount due. As it is passed over to you, there will be a transaction recorded between bank and amount due. As it stands the account labelled "Alison545" has £200 credited to it.

    For 2019, I declared a bonus - done in such a way that NI was payable 2020. But I didn't pay it, as I didn't know if my company could afford it. So the money stayed booked against my employee account. When I paid it, the balance on that account reduced to zero. If I hadn't paid it, it would have been recorded as a debt against the company. If I then closed the company, I lose the money.

    TL;DR so long as you've paid the tax and NI against the amount that was intended to be paid, no one gives a toss.
    Down with racism. Long live miscegenation!

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