Re:Final Payment
Okay, thanks for that. I couldn't get an IR35-friendly contract so I'll have to pay it hopefully through PAYE.
(IR36 will probably be backdated 6 years anyway...)
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Previously on "Need some Self Assessment help wrt dividends"
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Guest replied
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Guest repliedRe:Final Payment
If you are outside IR35 - it should be a dividend unless you applied for clearance to have it treated as a capital distribution in which case its potentially a capital gain.
If you're not outside IR35 it may be that the Revenue are treating it as a salary payment.
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Guest started a topic Need some Self Assessment help wrt dividendsNeed some Self Assessment help wrt dividends
I took out the final £6027 from my company in the last tax year before winding everything up.
In my Self Assessment I put this in box 10.15 (dividends and other qualifying distributions from UK companies). However Hector's wrote back to me saying he's moved it to box 1.8 (payments from P60/P45).
The change means an income tax bill of £342.32.
Who's right?
I should add that all my company money was taken out as PAYE apart from this money left in the company in before closing down. I issued myself a P45 in Dec 2001, well before the last tax year.Tags: None
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