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When paying PAYE earlier might be beneficial

There are special rules that determine when an employee is deemed to be paid for tax purposes. Basically, the legislation seeks to ensure that PAYE is applied as soon as is reasonably possible.  Or, according to HMRC, as soon as the employee is able to benefit from their salary.

The rules

The rules for general earnings, e.g a…

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IR35: Countdown to Off-Payroll Rules


What are the new off-payroll rules?

Up until now, contractors earning a rate of £220 per day or more or on contracts of more than six months have had to provide assurances to the relevant public sector body that they are outside of IR35. These thresholds do not apply to the tax rules.

As from 6th April 2017, the responsibility for assessing a worker’s employment status…

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What is a Director’s Loan?

A Director ‘s Loan is when you take money from your Company that isn’t a salary, dividend or expense repayment and you’ve taken more than you’ve put in.

You must keep a record of any money you borrow from or pay into the Company and this record is usually known as a “director’s loan account”.  Amounts due to the director from the company should be recorded in the…

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