Realtime PAYE

[northernladuk]

Hi Maslins,
I'm probably being overly paranoid regarding the IR35 and tax obligation in general; it's nice to have it straight in my own head.

I think you need to read up on IR35. It's per contract, not how the director pays himself.

[Jessica@WhiteFieldTax]

As I understand it, directors without a contract of employment don't need to follow NMW rules.

Concur...

Of course, if your company is about to go to the wall, write yourself a contract quickly and dig in for the statutory redundancy claim

[Georgey48]

As I understand it, directors without a contract of employment don't need to follow NMW rules.

Hi Maslins,
I'm probably being overly paranoid regarding the IR35 and tax obligation in general; it's nice to have it straight in my own head.

[Maslins]

As I understand it, directors without a contract of employment don't need to follow NMW rules.

[Georgey48]

you are a director working part time. Very different rules apply.

Ah, I see. So theoretically, I could, for example submit that I’m working 10hrs a week and paying myself £18.75/hr ? The rest of the time I spending dreaming up new strategy or whatever directors do ?

Many thanks for your reply

[eek]

After spending my whole life as a permie, I have finally shed the ‘golden handcuffs’ and started working as a contractor; no major drama but I do have a few niggling questions:-
I will be paying myself for the first time this month and had planned to pay myself £750 so as to draw undue HMRC attention to myself(my accountant is fine with this). Problem I can foresee is that one of the parameters I must supply to HMRC when running payroll is my hours. The minimum wage is currently £6.19 for my age group which would equate to £928.50 if I declared that I only work 37.5 hours a week. So, paying less than this amount would surely trigger suspicion ?
What is peoples thinking on this ?

you are a director working part time. Very different rules apply.

[Georgey48]

After spending my whole life as a permie, I have finally shed the ‘golden handcuffs’ and started working as a contractor; no major drama but I do have a few niggling questions:-
I will be paying myself for the first time this month and had planned to pay myself £750 so as to draw undue HMRC attention to myself(my accountant is fine with this). Problem I can foresee is that one of the parameters I must supply to HMRC when running payroll is my hours. The minimum wage is currently £6.19 for my age group which would equate to £928.50 if I declared that I only work 37.5 hours a week. So, paying less than this amount would surely trigger suspicion ?
What is peoples thinking on this ?