New Job and Ltd Co

UK PROFESSIONAL DRIVERS FORUMS THE UK PROFESSIONAL DRIVERS FORUM (INTERACTIVE)
1

Still waiting to hear from my accountant, but has anyone in here any experience or advice?
Start new job in september, and am at present a limper on Ltd Co.
Can I go PAYE whilst Ltd Co? And year end is end of this month, if i close company still 9 months to pay tax bill?
TIA

2

andy187:
Still waiting to hear from my accountant, but has anyone in here any experience or advice?
Start new job in september, and am at present a limper on Ltd Co.
Can I go PAYE whilst Ltd Co? And year end is end of this month, if i close company still 9 months to pay tax bill?
TIA

You get the Ltd Co to issue a p45 when you leave. If you then are still taking dividends you will have self assessment to do as well both this year and next year.

3

Sand Fisher:

andy187:
Still waiting to hear from my accountant, but has anyone in here any experience or advice?
Start new job in september, and am at present a limper on Ltd Co.
Can I go PAYE whilst Ltd Co? And year end is end of this month, if i close company still 9 months to pay tax bill?
TIA

You get the Ltd Co to issue a p45 when you leave. If you then are still taking dividends you will have self assessment to do as well both this year and next year.

Thanks

Same as what accountant said.

for the sake of 50p less than Ltd Co an hour I would rather be PAYE lol

4

andy187:
for the sake of 50p less than Ltd Co an hour I would rather be PAYE lol

Especially when the statutory holiday pay and workplace pension contributions your employers have to pay you on PAYE are going to be way more than the extra 50p/hr you get being Ltd.

If PAYE is £10/hr you want to be on at least £13/hr Ltd just to be on the same money.

5

Conor:

andy187:
for the sake of 50p less than Ltd Co an hour I would rather be PAYE lol

Especially when the statutory holiday pay and workplace pension contributions your employers have to pay you on PAYE are going to be way more than the extra 50p/hr you get being Ltd.

If PAYE is £10/hr you want to be on at least £13/hr Ltd just to be on the same money.

Current agency gig.

£16.50 paye. £20 ltd. So nearly near your formula.

However, I don’t agree with how you work it out. As a PAYE driver you would be paying more tax than me as a Ltd driver. If I paid tax that is.

6

Conor:

andy187:
for the sake of 50p less than Ltd Co an hour I would rather be PAYE lol

Especially when the statutory holiday pay and workplace pension contributions your employers have to pay you on PAYE are going to be way more than the extra 50p/hr you get being Ltd.

If PAYE is £10/hr you want to be on at least £13/hr Ltd just to be on the same money.

Going permanent from agency

so for a basic 45 hours a week i get approx £435 take home, along with a pension, holiday pay and sick pay along with staff discounts, CPC training and medicals and not worrying about next week’s work availability.

or agency was averaging at 40 hours a week, £500 out of which got to leave some for taxman, accountant and no holiday pay.
And risk of IR35