Originally posted by mlc2009
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Reply to: question about PAYE
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Previously on "question about PAYE"
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Originally posted by mlc2009 View PostYou'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
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Originally posted by jamesbrown View PostTo 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.
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Originally posted by jamesbrown View PostTo 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.
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Originally posted by mlc2009 View PostIf so, this is an outrage that someone can let this happen.
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Originally posted by Kenny@MyAccountantFriend View PostIf 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.
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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.
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Originally posted by Kenny@MyAccountantFriend View PostClass 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.
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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.
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Originally posted by Kenny@MyAccountantFriend View PostThat 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.
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
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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.
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Originally posted by Kenny@MyAccountantFriend View PostDepends 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.
the salary was £662 monthly, from my LTD company. He never mentioned anything about PAYE
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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.
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question about PAYE
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?Last edited by mlc2009; 18 March 2015, 03:35.Tags: None
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