So gig started in May 2013 which left you 11 months before end of year in April 2014. Now you're worried that you've done it wrong....
Maybe 10-11 months ago would have been best time to think about this? Just saying like....
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Previously on "Didn't pay myself any salary in 2013/14 - am I too late now or is there some grace?"
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Follow nluk's advice. Forget the 'PDQ' bollo, just do it. Bunch of strangers on a forum are no replacement for a decent contractor accountant.
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Originally posted by bonebaker View PostAnd I have just contacted an accountant friend tonight if he could take on my company.
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Originally posted by bonebaker View Post========================
Have registered for PAYE tonight, but now think that it will take a few days before activation, thus the 19th April deadline for submitting an EPS is also at risk.
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Originally posted by bonebaker View PostAnd I have just contacted an accountant friend tonight if he could take on my company.
This thread is a good lesson to anyone about using accountants. You've been burned so time to do it properly.
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further details
Originally posted by bonebaker View Post========================
.......But the calculation for NI contributions and PAYE was reliant on the online registration. I was sure that I had registered for PAYE when I also registered for CT and VAT, but on the Government Gateway site, it is not there. Have registered for PAYE tonight, but now think that it will take a few days before activation, thus the 19th April deadline for submitting an EPS is also at risk.
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No income received from last perm position (or anyone else) in 13/14 FY
Originally posted by northernladuk View PostGet an accountant and speak to them... Regularly.
Did you get income from your perm position last year? If you did you probably hit the tax threshold so not worth paying yourself anything...
But I am not an accountant so get yourself one.
Agreed, I will get an accountant PDQ.
No income from anyone in 2013/14.
I have cheques waiting to be paid for salary and expenses, which are dated 4th April 2014. But the calculation for NI contributions was reliant on the online registration. I was sure that I had registered for PAYE when I also registered for CT and VAT, but on the Government Gateway site, it is not there. Have registered for PAYE tonight, but now think that it will take a few days before activation, thus the 19th April deadline for submitting an EPS is also at risk.
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Get an accountant and speak to them... Regularly.
Did you get income from your perm position last year? If you did you probably hit the tax threshold so not worth paying yourself anything...
But I am not an accountant so get yourself one.
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Didn't pay myself any salary in 2013/14 - am I too late now or is there some grace?
Sorry, but searches didn't help.
I started my company with my first shaky contract in May 13, long commute, low rate, but this has strengthened and ended the year in good form but very, very, busy.
My leaving payment from last permanent position set me up so that I didn't need to pay myself anything for the last year, but now I realise that I should have done so, especially for the NI contributions continuation perspective.
The question is whether I can pay myself a salary now in a lump sum for the 2013/14 year and pay the necessary NI contributions?
The HMRC website is mostly about 2013/14 and I can't see whether this is possible.
Thanks for your advice and please be gentle with a newbie.
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