Re: Thinking about going "limited", need advice...

In message <drn5no$3nl$1@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx>, Tim <me@xxxxxxx> writes 
>"john boyle" wrote
>> Many small firms just allow directors to make withdrawals
>> and at the end of the year they figure out the most efficient
>> way of dividing the payment into divi or salary or loan.
>
"Tim" wrote
>If they "decide" salary at the end of the year,
>won't the PAYE payments to HMRC then be late?

"john boyle" wrote
Depends on how you arrange your timings. 

How did you mean?

If you withdrew more than the personal allowance, within
the first 9 months (if paying PAYE to HMRC quarterly;  11
months if paying monthly) of the tax year, it will be late won't it?

Withdrawals could be made by overdrawing the director's loan account and converted to a salary single payment.
--
John Boyle
.

Relevant Pages

  • Re: Thinking about going "limited", need advice...
    ... >>>>> way of dividing the payment into divi or salary or loan. ... >>> "Tim" wrote ... > Not if the withdrawals are by way of a director's loan, ... > and dividends you will in due course be receiving just ...
    (uk.finance)
  • Re: Air safety relief valve question
    ... I wonder if you or Tim could live without me. ... withdrawals or make someone else your target? ... Rocky - http://wookiee.home.att.net ...
    (misc.transport.trucking)