Originally posted by rootsnall
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Reply to: Tax implications on Secretary
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Previously on "Tax implications on Secretary"
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Originally posted by swebbSelf assesment ! Why were you paying him or have I missed something. I thought if you weren't paying for the role it was basically just a signatory role and the tax man didn't need to get involved at all as far as they were concerned
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Originally posted by rootsnallYour accountant may act as secretary ( for a fee ! ), it means a lot of the paperwork will also go direct to them. I would keep the oldies out of it, my Dad still has a go each year as he has to fill in a self assesment after I got him involved in an earlier Ltd I had.
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Your accountant may act as secretary ( for a fee ! ), it means a lot of the paperwork will also go direct to them. I would keep the oldies out of it, my Dad still has a go each year as he has to fill in a self assesment after I got him involved in an earlier Ltd I had.
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I think I read the rule was in place but didn't come into effect until next year !
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Originally posted by Captain DispensableWhen does the rule about company secretaries change so that companies with only one director don't need a secretary anymore? I'm sure I didn't dream that one.
Pretty sure its already in place...
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When does the rule about company secretaries change so that companies with only one director don't need a secretary anymore? I'm sure I didn't dream that one.
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Cheers for the information guys sounds like it won't be a problem then
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Originally posted by xoggothOnly if you pay them I think. Don't believe the secretary has any financial liabilities for tax or other debts but in theory may have legal liabilities:-
http://www.companieshouse.gov.uk/abo...a1.shtml#three
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Only if you pay them I think. Don't believe the secretary has any financial liabilities for tax or other debts but in theory may have legal liabilities:-
http://www.companieshouse.gov.uk/abo...a1.shtml#three
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Originally posted by swebbHi,
Just about to start a new Ltd company and need a secretary, being single I was going to ask my mother or father. They are coming up to retirement, infact my farther already is so I wanted to check if there was any possible tax hits on them and also make sure there would be no consequences for either of their pension payments. I will also check this with the accountant but thought the more advice the better.
Any advice would be appreciated .
Thanks
Steve
If your parents are retired and not using their full annual tax allowance, you could pay a salary that won't push them over into tax - remember that if this does hapen your company will have to pay Emplyers NI contributions to Gordo.
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Tax implications on Secretary
Hi,
Just about to start a new Ltd company and need a secretary, being single I was going to ask my mother or father. They are coming up to retirement, infact my farther already is so I wanted to check if there was any possible tax hits on them and also make sure there would be no consequences for either of their pension payments. I will also check this with the accountant but thought the more advice the better.
Any advice would be appreciated .
Thanks
SteveTags: None
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