Reply to: Salary Payments

[Bluebird]

And to make up for its perfection, he invented the Welsh.

and thus proved that even perfection could be improved on...

[Bluebird]

That's Yorkshire!

no, thats ripper country..

[TheFaQQer]

It's Gods own country....

That's Yorkshire!

[NotAllThere]

And to make up for its perfection, he invented the Welsh.

[Bluebird]

Does Wales count as emigrating?

It's Gods own country....

[Sockpuppet]

I don't have to pay dividends in year. I take about £8k a year but then also take another £14k/year in mileage payments (tax free) - which is enough to live on while I dont have a mortgage

[ASB]

I would have thought that you are best off paying enough salary to get the basic NI stamp, rather than not paying NI at all.

If you pay yourself the LEL the actual NI payable is nil but you still get the years credit for pension etc.

[TheFaQQer]

Who needs NI - I'm going to retire / emigrate b4 I'm 50.

Does Wales count as emigrating?

[Bluebird]

I would have thought that you are best off paying enough salary to get the basic NI stamp, rather than not paying NI at all.

Who needs NI - I'm going to retire / emigrate b4 I'm 50.

[TheFaQQer]

I would have thought that you are best off paying enough salary to get the basic NI stamp, rather than not paying NI at all.

[xoggoth]

A £100 PER WEEK?? Look old chap, paying yourself weekly is really common. What are you, some sort of shop assistant or shelf stacker or something? Real class sorts pay salary as a lump sum director's bonus by 31st january following the end of the financial year in question.

Seriously, I suppose if you are unlucky, what you have in the records will matter, but I reckon that investigations are mostly chance in the first instance. However, don't forget that (unless you are caught by IR35 obviously) there is no such thing as not paying enough salary as a director is not an employee without a contract that says so.

Some have said on here that too regular a dividend can be deemed to be salary. I would be interested if anyone can point to any law or case that supports that.

PS I find that never a week passes without some brown envelope from the crappy HMRC. They have nothing better to do.

[WetBehindTheEars]

That's genius.

[kirk]

If your friend has any unopened HMRC brown envelopes left lying around then it might be worth him opening them - there could be a couple of valuable CDs inside...

[Kess]

If your friend has any unopened HMRC brown envelopes left lying around then it might be worth him opening them - there could be a couple of valuable CDs inside...

[WetBehindTheEars]

I apologise for opening a thread on a subject that has been done before. I will search the history in future.

I don't fear investigation as such, I have taken all the necessary precautions (I think). However, I feel most contractors fear investigation. Who knows what might happen. Many an innocent man has been convicted of a crime they did not commit. I'd rather avoid an investigation if I could.

I know a couple of guys who were investigated and they have said it is not a pleasant experience. One guy said he got to the point of having panic attacks when any brown envelope came through the door. If it had HMRC on the front he totally freaked out and dare not even open it. He had to ask his wife to open it. LOL.

I want to keep as much hard earned money in my pocket as I can but don't want to sail too close to the wind.