How to calculate Year end self ass, perm + contract roles in same year 2015/16

Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:

You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.

FatLazyContractor replied

27 March 2016, 14:01
Originally posted by MrMarkyMark View Post

I usually ask my company bank to make a payment into my personal account.

HTH

Very poor money management.

My company bank pays directly into the hooker/Pimp's bank as a 'Service surcharge'
Leave a comment:
MrMarkyMark replied

27 March 2016, 13:58
Originally posted by sat View Post

what is the efficient way in taking dividends based on circumstances pls advise.

I usually ask my company bank to make a payment into my personal account.

HTH
Leave a comment:
DimPrawn replied

27 March 2016, 13:43
Ask your accountant.
Leave a comment:
northernladuk replied

27 March 2016, 10:44
The answer you are after is 'Yes'
Leave a comment:
PurpleGorilla replied

27 March 2016, 10:43
Originally posted by sat View Post

Hi,

I have opened my Limited company last year 2015 july, before that I am on permanent employee for UK based company which have paid 2000 appx tax during this employment with earning of 15,000 appx.

After opening my limited company I pay myself as 833.00 per month(Aug to March) operating a PAYE with a total of 6000 appx.

My question is how does the PAYE calculated at year end is it 15000(prev emp earnings)+6000(own lim company PAYE)=21000 total earnings

OR 6000
If I take a dividents of 20,000 will I fall under higher rate tax payer(20K div+21k salary=41k)? OR (6k sal+20K div=26k)
Does 15k salary from my permanent position considered in director self assessment or above total paye figures?
what is the efficient way in taking dividends based on circumstances pls advise.

Say what?
Leave a comment:
sat started a topic How to calculate Year end self ass, perm + contract roles in same year 2015/16

27 March 2016, 10:39
How to calculate Year end self ass, perm + contract roles in same year 2015/16

Hi,

I have opened my Limited company last year 2015 july, before that I am on permanent employee for UK based company which have paid 2000 appx tax during this employment with earning of 15,000 appx.

After opening my limited company I pay myself as 833.00 per month(Aug to March) operating a PAYE with a total of 6000 appx.

My question is how does the PAYE calculated at year end is it 15000(prev emp earnings)+6000(own lim company PAYE)=21000 total earnings

OR 6000
If I take a dividents of 20,000 will I fall under higher rate tax payer(20K div+21k salary=41k)? OR (6k sal+20K div=26k)
Does 15k salary from my permanent position considered in director self assessment or above total paye figures?
what is the efficient way in taking dividends based on circumstances pls advise.
Tags: None