VAT & PAYE ... does one affect the other?

[SueEllen]

this is all waffle to me, think I am leaning more towards Umbrella.

Is it as hard as it sounds?

Nope it's easy.

Keep and complete few spreadsheets either given to you by your accountant, or nicked from a reliable source and away you go.

And if you don't know something either email/telephone your accountant, or talk to the party who sent you the form directly instead of posting on here first and getting confused.

[Xenophon]

this is all waffle to me, think I am leaning more towards Umbrella.

Is it as hard as it sounds?

No it isn't.

Company set-up can be a bit tiresome as there is paperwork involved, but a good accountant will guide you through it and tell you what you need to do. In terms of monthly tasks, I probably spend less than an hour per month on it. It really isn't that hard.

[hgllgh]

[Ruprect]

I am ditching my accountant after getting some pretty poor service and will be doing my own VAT/PAYE. (one man plc)

My accountant has agreed that they will produce my year end accounts at and associated CT return as I will be paying them up to my year end and providing them with all info up to that point.

I assumed that I was also entitled to the PAYE year end forms but they have said .... "The PAYE year (and therefore the payroll) runs from 6th April 2007 to 5th April 2008. If you leave us at the end of January 2008, with last VAT quarter run December 2007, we will not have the full payroll information for the stated year in order to submit the P35."

The original confirmation of services (engagement letter) states that these forms will be completed as part of a years accountancy services.
If I provide all of my company information and bank statements up to my year end (31st Jan) they have the info.

I wasn't aware that there was any dependence between PAYE and VAT?

[ItsCalledRex]

this is all waffle to me, think I am leaning more towards Umbrella.

Is it as hard as it sounds?

[XLMonkey]

there isn't any link. What they are referring to is the year end for your company's accounts.

you personally (PAYE) declare and pay income tax from April to April each year. That's what your P35 is for.

yourco declares and pays corporation tax to a different year end (from January to January), and your VAT usually follows the same pattern.

Sadly, your accountant is right about this (even if they weren't right about other things....)

[hgllgh]

I am ditching my accountant after getting some pretty poor service and will be doing my own VAT/PAYE. (one man plc)

My accountant has agreed that they will produce my year end accounts at and associated CT return as I will be paying them up to my year end and providing them with all info up to that point.

I assumed that I was also entitled to the PAYE year end forms but they have said .... "The PAYE year (and therefore the payroll) runs from 6th April 2007 to 5th April 2008. If you leave us at the end of January 2008, with last VAT quarter run December 2007, we will not have the full payroll information for the stated year in order to submit the P35."

The original confirmation of services (engagement letter) states that these forms will be completed as part of a years accountancy services.
If I provide all of my company information and bank statements up to my year end (31st Jan) they have the info.

I wasn't aware that there was any dependence between PAYE and VAT?