changng from PAYE tp LTD company

[abobutta]

I sent my time sheet and the agency processed the payment as PAYE, however I already got my LTD can they stop the payment and change it to the LTD

[cojak]

I sent my time sheet and the agency processed the payment as PAYE, however I already got my LTD can they stop the payment and change it to the LTD

Call the agency and ask them...

[northernladuk]

Call the agency and ask them...

Don't be silly. That's far too sensible.

[TheFaQQer]

If the agency has already set you up as their employee and processes payment, you would need a new contract between them and your limited company to replace the one in existence.

I'd suggest that if you were investigated, HMRC would have a pretty good case for showing that you were an employee if you suddenly switch (effectively mid-contract) from being an employee to not.

[quag88]

If the agency has already set you up as their employee and processes payment, you would need a new contract between them and your limited company to replace the one in existence.

I'd suggest that if you were investigated, HMRC would have a pretty good case for showing that you were an employee if you suddenly switch (effectively mid-contract) from being an employee to not.

I got a transfer to an anothet position one week into a paye job but the rest of the guys on the new job are ltd company so obviously I wanted the same conditions

so if I was already paid from the company paye how would I change to ltd co without the inland revenue pulling me up?

[TheFaQQer]

so if I was already paid from the company paye how would I change to ltd co without the inland revenue pulling me up?

Luck.

If you avoid there being an investigation, then you get away with it. If you don't, then you'll need a very good explanation as to why you changed.

Unless you are going to declare yourself inside IR35 anyway, in which case HMRC won't care because they are getting nearly the same amount in tax anyway.

[quag88]

If the agency has already set you up as their employee and processes payment, you would need a new contract between them and your limited company to replace the one in existence.

I'd suggest that if you were investigated, HMRC would have a pretty good case for showing that you were an employee if you suddenly switch (effectively mid-contract) from being an employee to not.

Luck.

If you avoid there being an investigation, then you get away with it. If you don't, then you'll need a very good explanation as to why you changed.

Unless you are going to declare yourself inside IR35 anyway, in which case HMRC won't care because they are getting nearly the same amount in tax anyway.

so how would you advise I proceed with this? change to ltd co and declare on the IR35 I have switched from paye to limited company?

[Bunk]

so how would you advise I proceed with this? change to ltd co and declare on the IR35 I have switched from paye to limited company?

Find out what IR35 is, ASAP

[Wanderer]

so how would you advise I proceed with this? change to ltd co and declare on the IR35 I have switched from paye to limited company?

It's quite possible that you can put the PAYE thing down to a "misunderstanding" or perhaps the agency can cancel the PAYE payment and divert it to your LTD.

Get yourself an accountant and talk it through with them, there are a few helpful ones here. You will also need to get your contract reviewed for IR35 compliance and they can advise if you have burned your bridges or not.

Good luck!