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LTD Comp pay

Archived UK Tier 1 (General) points system forum. This route no longer exists.

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canon123
Member of Standing
Posts: 275
Joined: Sun Oct 25, 2009 9:51 am

LTD Comp pay

Post by canon123 » Tue Aug 21, 2012 4:41 pm

Is it legal to take salary from business account even if i havent paid the corp tax to HMRC on time??

i did set up a monthly payment plan with HMRC to clear the corp tax.

please advise if its legal to take a salary from business account as i am 100% shareholder and a employee of my LTD Comp.
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republique
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Posts: 1342
Joined: Fri Mar 21, 2008 5:58 pm

Re: LTD Comp pay

Post by republique » Tue Aug 21, 2012 9:30 pm

canon123 wrote:Is it legal to take salary from business account even if i havent paid the corp tax to HMRC on time??

i did set up a monthly payment plan with HMRC to clear the corp tax.

please advise if its legal to take a salary from business account as i am 100% shareholder and a employee of my LTD Comp.
You can not take a salary that is greater than the amount left after appropriate taxes.
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kamalmin
Newly Registered
Posts: 26
Joined: Thu Jul 29, 2010 3:44 pm
Location: chennai

Post by kamalmin » Wed Aug 22, 2012 12:44 am

Please register your self as a employee of your company generate P46 for you .
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canon123
Member of Standing
Posts: 275
Joined: Sun Oct 25, 2009 9:51 am

Post by canon123 » Wed Aug 22, 2012 9:21 am

Yes, i am registered as employee of my company and pay NI and tax every month.
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