question about PAYE

[DannyF1966]

You're totally right. A lot of events happened this week and I'm feeling stressed. No excuse but if I told you.. you wouldn't believe me! Still, you're spot on and I panicked.

FYFYBoth. (added full stop at the end in case it's hard to see!)

[Eirikur]

FTFY HTH

You're totally right. A lot of events happened this week and I'm feeling stressed. No excuse but if I told you, you wouldn't believe me! Still, you're spot on andI panicked

FTEMFY

[northernladuk]

You're totally right. A lot of events happened this week and I'm feeling stressed. No excuse but if i told you.. you wouldnt believe me! Still, your spot on and i panicked

FTFY HTH

[mlc2009]

To offer another perspective, it's something of an "outrage" that someone can run a company without knowing the very basics. I suggest you do a lot more reading (see right ---->), because it's ultimately your responsibility to ensure that your company is meeting its legal and tax obligations.

Your totally right. A lot of events happened this week and im feeling stressed. No excuse but if i told you.. you wouldnt believe me! Still, your spot on and i panicked

[northernladuk]

To offer another perspective, it's something of an "outrage" that someone can run a company without knowing the very basics. I suggest you do a lot more reading (see right ---->), because it's ultimately your responsibility to ensure that your company is meeting its legal and tax obligations.

Totally this. Also sack your accountant. If you don't trust him enough to ask him what he is doing and instead turn to a bunch of strangers then you need a new one.

[jamesbrown]

If so, this is an outrage that someone can let this happen.

To offer another perspective, it's something of an "outrage" that someone can run a company without knowing the very basics. I suggest you do a lot more reading (see right ---->), because it's ultimately your responsibility to ensure that your company is meeting its legal and tax obligations.

[mlc2009]

If you let them know what day you ceased to be self employed they should backdate their records accordingly.

You will need you NI number or UTR when u call them to access your records.

many thanks for your help!

[Kenny@MyAccountantFriend]

If you let them know what day you ceased to be self employed they should backdate their records accordingly.

You will need you NI number or UTR when u call them to access your records.

[mlc2009]

Class 2 NIC implies your registered as self employed as opposed to being a director of a Ltd company.

Have you been self employed before or continue to be self employed now as the rules are changing around class 2 NIC and it will now be paid via self assessment as opposed to by direct debit for the 2015/16 tax year.

If you haven't or are no longer self employed a quick call to HMRC should fix this with them updating your records accordingly.

Yes, I was self employed beforehand. I will call them and let them know

[Kenny@MyAccountantFriend]

Class 2 NIC implies your registered as self employed as opposed to being a director of a Ltd company.

Have you been self employed before or continue to be self employed now as the rules are changing around class 2 NIC and it will now be paid via self assessment as opposed to by direct debit for the 2015/16 tax year.

If you haven't or are no longer self employed a quick call to HMRC should fix this with them updating your records accordingly.

[mlc2009]

That salary would be below your personal tax free allowance of £10,000 and also below the NI threshold as such no PAYE or NIC would be payable, provided your on a standard tax code of 1000L.

my tax code is 989L, my personal allowance is £10600 from this year..

so yeah, seems hes right after all

on the letter I got, it says outstanding debt restriction of -702, because I owe 140.40 arreas of class 2 NI contributions, strange as I never got that letter, typical HMRC

[Kenny@MyAccountantFriend]

That salary would be below your personal tax free allowance of £10,000 and also below the NI threshold as such no PAYE or NIC would be payable, provided your on a standard tax code of 1000L.

[mlc2009]

Depends on the level of salary taken. If you have a tax efficient salary there may be no PAYE payable on what you have paid yourself.

It's difficult to say for sure without a lot more detail. Your accountant should have provided you with details of the salary and PAYE payable for you to check.

well he seems like a good accountant, but maybe im panicking over nothing

the salary was £662 monthly, from my LTD company. He never mentioned anything about PAYE

[Kenny@MyAccountantFriend]

Depends on the level of salary taken. If you have a tax efficient salary there may be no PAYE payable on what you have paid yourself.

It's difficult to say for sure without a lot more detail. Your accountant should have provided you with details of the salary and PAYE payable for you to check.

[mlc2009]

Hi All,

My accountant setup my LTD CO in november 2013, we have been trading since then. He said at time he would take care of PAYE, I have been withdrawing maximum salary from company, tax efficient

As im not an accountant, I realised today when reading about PAYE. I havent paid any?

I'm the director and only employee, any advice?