Originally posted by vwdan
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Salary Change
Collapse
X
-
-
But what OP wants/needs a P45 to be tax efficient. If his LTD stops paying a salary it can issue a P45.Originally posted by vwdan View PostIt wouldn't be a P45, would it? You'd need a new starter form, as you're effectively taking a second job.
Otherwise it's emergency tax till forever and only getting it back at SA time.
Of course an accountant would/should have already done this. Buy hey ho.See You Next TuesdayComment
-
A P45 isn't necessary.
When I was in a similar situation, I had to wait until I had received my first pay from my employer. Then I called HMRC and asked to split my tax code across 2 employments. I set the one for myco to 0T which has the required effect.Comment
-
Yes, stop paying yourself a salary from you company, but still file your HMRC payroll as you did every month until now (I hope) but with a value of 0.Originally posted by Jake1000 View PostI have always paid myself salary of £732. Now since I have a job I want to save tax and pay myself as low as possible. Do you mean I can stop paying myself even though I am employed by m y limited company?Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- 52 contractors told us what they think of Andy Burnham. Basically: not much, yet. Today 06:02
- Budget 2026: what UK housing needs (and doesn’t) Yesterday 06:52
- Who the hell is Ethica Resolve — and is it ethical? Sep 4 10:42
- Contractor limited company pension contributions: how to extract profit tax-efficiently? Sep 4 07:44
- The weird, the wonderful and the genuinely useful: what contractors get wrong about expenses Sep 3 06:00
- Right to Work changes from October 2026: a contractor’s explainer Sep 2 15:46
- Data Kraken v Torry Harris: 5 lessons for software developer contractors Sep 2 06:09
- Loan Recall Case Study: Amanda Sep 1 06:00
- How IR35 inflated an £8.5bn consultancy bill — and tests Burnham at the Budget Aug 28 07:47
- Autumn Budget 2026: FCSA’s 5 contractor asks of John Healey Aug 27 04:15

Comment