4-month old ltd co. No salary yet. Contract from Nov 07. Do I have to submit a P35?

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Ruprect replied

13 May 2008, 10:10
Originally posted by KentPhilip View Post

Have I got around IR35?

CUK equivalent to viz letters' "Do I wn £5?"
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KentPhilip replied

13 May 2008, 09:49
Originally posted by Sockpuppet View Post

Not quite...

I'll take that as a no then
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Sockpuppet replied

13 May 2008, 09:43
Originally posted by KentPhilip View Post

So I don't have to answer the dreaded question 6. Have I got around IR35?

Not quite...
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KentPhilip replied

13 May 2008, 09:29
Originally posted by Sockpuppet View Post

Phone HMRC and ask. I'd suspect that you will have to even if it is a "null" return.

Just to say that you owe nothing.

Well I called up the HMRC and they said that as I am not paying myself a salary (which I'm not) I don't need to "register as an employer".

So following on from that I presume I don't need to complete form P35 because it is the "Employers Annual Return" and how can you have that if you are not an employer?

So I don't have to answer the dreaded question 6. Have I got around IR35?
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Turion replied

7 April 2008, 07:49
Originally posted by Danbro View Post

HI,

Initially you need to find out if you registered for PAYE, if your accountant set your company up fully I suspect that you will be registered for PAYE.

If so then you still need to prepare a NIL return, you cant file nil returns online so you need to file a paper one, just write NIL in big letters and complete the decleration and send in.

Maybe consider speaking to your accountant as it maybe beneficial to pay a small salary to utilise your personal allowance

Thanks

He can utilize his personal allowance without a formal salary. Just take out the 5k or so as a directors fee. I'm sure his accountant will do this.
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Danbro replied

7 April 2008, 07:09
Danbro Accounting Ltd

HI,

Initially you need to find out if you registered for PAYE, if your accountant set your company up fully I suspect that you will be registered for PAYE.

If so then you still need to prepare a NIL return, you cant file nil returns online so you need to file a paper one, just write NIL in big letters and complete the decleration and send in.

Maybe consider speaking to your accountant as it maybe beneficial to pay a small salary to utilise your personal allowance

Thanks
Leave a comment:
Sockpuppet replied

6 April 2008, 23:20
Phone HMRC and ask. I'd suspect that you will have to even if it is a "null" return.

Just to say that you owe nothing.
Leave a comment:
KentPhilip started a topic 4-month old ltd co. No salary yet. Contract from Nov 07. Do I have to submit a P35?

6 April 2008, 21:49
4-month old ltd co. No salary yet. Contract from Nov 07. Do I have to submit a P35?

A P35 is a PAYE statement. But if I have no employees and am not paying myself a salary yet then do I have to fill in one?
I have paid myself a small divi in Dec 07.
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