Closing PAYE Schemes
Can someone tell me where I am going wrong?
Company directors pay themselves a salary of £624.00 per month by standing order. The amount puts them just below the point at which their company has to pay Class 1 employers contributions. There must be tens of thousands of such cases.
No payments are due to HMRC and we do a P60/P35 each year.
This is not a question about RTI.
We have been receiving letters from HMRC saying that there is no indication that we are operating PAYE and therefore they are going to close the scheme.
Further enquiry shows that they send this letter if no money is being received by Accounts office.
But we ARE operating PAYE, it’s just there are no deductions.
We have an annual payments flag set by Accounts office. Had this flag not been set, we would have been receiving reminders for payments.
The lady at HMRC this morning said that annual payment schemes are rare these days. Why is this?
Of course, when you phone, they have their stock answers and do not understand how things work in practice. No-one at HMRC seems able or willing to flag up the fact that potentially something is going wrong which is so frustrating.
I've had 11 of these this week.
Has anyone else experienced this and how have you deal with it?
Or is it me!
- 11pm and having a blonde moment 18 1
- Losses B/F and Class 4 NIC 159 2
- Pounds Shillings and Pence 510 21
- Software 312 8
- Company dividends 374 12
- Tax return filed on time but payment late 385 6
- SA late payment penalty 166 3
- Death of taxpayer - personal allowance 284 8
- No codes in Sage 50 Nominal List? 88 1
- Copy Wanted 637 1
- Might income tax be payable on these gifts? 92 2
- How Long does it take to get an Agent ID 100 2
- Private Residence Relief after gift 105 3
- Companies House late filing penalties 2,411 81
- Buy to let property : Is parking bay tax deductible ? 256 5
- When is golf coaching a vatable supply? 164 2
- Comany ceasing to trade 153 2
- French resident, split year & UK close company dividends 117 1
- Closing a limited company 213 5
- Rental Income for Child Benefit Charge 150 2
- Form MR01 (Particulars of a charge) - does this need to be filed if you remortgage with the same lender? 852
- Underpaid VAT assessment and relation to SATR 541
- Did you realise Google will not patch android exploit ... 512
- Latest phishing scam 397
- Entrepreneurs' relief 372
- Supply teachers and Ltd Companies 330
- Cashback for opening business bank acct = trading income? 313
- Corporate LLP with 30 June Year end - How to record on SA800? 299
- Auto Enrolment Questions Answered 211
- Penalties- On Tax Returns (New Regime) 190