I assume that the on-line PAYE filing incentive is effectively taxable in a limited company as it reduces the salary costs. Am I correct in thinking this?
Ebenezer Scrooge
Replies (1)
Please login or register to join the discussion.
Tax-free
No, I think you'll find it's tax-free income (although simply credited to your PAYE/NIC account unless you scream) and is not a reduction in salary costs.
So, I would credit it to a completely different account so that it's not forgotten in the tax comp.