PAYE rebate as now contracting

[VectraMan]

Or if you've already earned enough to reach the threshold as a permie since April, then there's not much point even bothering to register for PAYE until 2014.

[Sockpuppet]

You could also take the view the PAYE up to now has been "lost" and craft your payments so that you can pay yourself a salary for the rest of the year that nets neither a paye debt or credit.

Ok slightly less tax efficient than doing it the min PAYE way but another way of doing it.

[Craig at Nixon Williams]

For NI no.

For Income Tax, yes, there will be something to come back, either through company payroll - but that creates an issue on funding the repayment when there is no other PAYE to wet it against - or long stop via self assessment.

Your accountant will be able to advise further.

The company will fund the PAYE refund to yourself until such a time that it receives the cash from HMRC - you can ask HMRC to issue the refund by completing this online form: https://online.hmrc.gov.uk/shortform...ww.hmrc.gov.uk

Hope this helps!
Craig

[Clare@InTouch]

Keep in mind it's only the period since 6th April 2013 that counts for tax rebate purposes though, the 2 years prior to that have no bearing.

[Jessica@WhiteFieldTax]

For NI no.

For Income Tax, yes, there will be something to come back, either through company payroll - but that creates an issue on funding the repayment when there is no other PAYE to wet it against - or long stop via self assessment.

Your accountant will be able to advise further.

[NigelJK]

I have been working permanent for the last 2.5 years, paying the standard + upper band tax during that time. I'm now going contracting (again) and so will be doing the normal paye under tax threshold + dividends route. Will this mean I'll get some rebate as my new 'salary' is much lower than the pre-calculated amounts previously paid?