DIY PAYE help please

[pr1]

+1 even if his capitals key isn't working.

FOUND IT

[northernladuk]

pay & use an accountant, even if just for the first year - they will almost certainly save you money overall - then you can go on your own after that

free internet forum advice is not worth putting a years turnover on

+1 even if his capitals key isn't working.

[pr1]

Hi All

Could someone advise please? I would like to complete my own PAYE, but the last time I did this was in the 90s when you had to read tables to calculate it and then post cheques to the Inland Revenue! I'm in a straightforward non-IR35 contract which began in June and was my first income this financial year. Is there a resource to tell me (or could someone here tell me) how to set my salary from June 15 to Apr 16 and how I calculate monthly PAYE tax and employee/employer NICS for that period? I'm aware I have the choice to go to a good accountant, but having completed my own bookkeeping previously I feel if I could get a refresher and pointers on how it's done today I could handle it.

Any assistance gratefully received.

Thanks

pay & use an accountant, even if just for the first year - they will almost certainly save you money overall - then you can go on your own after that

free internet forum advice is not worth putting a years turnover on

[WordIsBond]

You can easily do your own payroll. You can use the free Basic PAYE Tools from HMRC to do your reporting. You enter the amount and it tells you how much tax, if any, is due, and you can use it to submit your monthly report to HMRC. You'll need to register your company with HMRC as an employer.

Your accountant may handle the whole payroll thing for you as part of his package service, or he may charge extra for doing it. If he charges extra, you can quickly learn to do it yourself -- if you do that, you should ask him whether it matters which payroll package you use (there are others besides the one from HMRC that are also free).

As for the amount you should pay in salary, it depends on various factors such as whether you have other income or not. You should ask your accountant.

[Archangel]

Use payroo, it's free and very easy!

[northernladuk]

Get a good accountant. Doing some book keeping doesn't mean you are aware of all the existing and upcoming legislation. Its just not worth doing it yourself.

[stek]

man HMRC

[Onward]

Hi All

Could someone advise please? I would like to complete my own PAYE, but the last time I did this was in the 90s when you had to read tables to calculate it and then post cheques to the Inland Revenue! I'm in a straightforward non-IR35 contract which began in June and was my first income this financial year. Is there a resource to tell me (or could someone here tell me) how to set my salary from June 15 to Apr 16 and how I calculate monthly PAYE tax and employee/employer NICS for that period? I'm aware I have the choice to go to a good accountant, but having completed my own bookkeeping previously I feel if I could get a refresher and pointers on how it's done today I could handle it.

Any assistance gratefully received.

Thanks