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Previously on "How much minimum PAYE per year to stay above the radar ?"
But my P35 has the ammount of PAYE paid ... I think it is an extra sheet the accountant supplied to the HMRC....
As a director of the Co , it can be argued I worked throughout the existence of the Co ?!?! Is that so ? If so then the wise way to pay PAYE should be to keep it just above 12 months at NMW ..... which is 11 000 about....
Typo in number 1. It should have said "do not". Why not just check what it says about NMW for directors on the DTI web site? (And on here every other day).
1) If you have a contract of employment the you do not need to pay NMW if you are a director.
2) If you do have a contract of employment then you need to pay NMW for hours worked under it.
3) It is conceivable you do have an implied contract of employment even if no written one exists.
In any event I wouldn't imagine it making any difference to whether you get an investigation or the results of it. The only difference that HMRC will see are some slightly larger figures (but still small) on the P35 and in the annual accounts.
But my P35 has the ammount of PAYE paid ... I think it is an extra sheet the accountant supplied to the HMRC....
As a director of the Co , it can be argued I worked throughout the existence of the Co ?!?! Is that so ? If so then the wise way to pay PAYE should be to keep it just above 12 months at NMW ..... which is 11 000 about....
1) If you do not have a contract of employment the you do not need to pay NMW if you are a director.
2) If you do have a contract of employment then you need to pay NMW for hours worked under it.
3) It is conceivable you do have an implied contract of employment even if no written one exists.
In any event I wouldn't imagine it making any difference to whether you get an investigation or the results of it. The only difference that HMRC will see are some slightly larger figures (but still small) on the P35 and in the annual accounts.
Last edited by ASB; 6 October 2008, 16:33.
Reason: Oops, typo in 1.
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