P14 filing without prior P46?

Small company, director paid out small amounts of money during the year, ends the tax year a few £100 short of the Lower Earnings Limit in actual payments.

Q1: Can the extra few £100 be credited to the director's loan account to hit LEL? Accounts for March are not yet drawn up, so could be put in for last date of March.

Q2: Has anyone ever been in the situation where they submitted a P14 for an employee without a prior P46 being submitted? E.g., because, as in the situation above, the director hit the LEL in the very last day of the tax year either by actual payment or credit to the DLA? I spoke to HMRC, who said that they "preferred" that the P46 would have been submitted prior to the P14, but they didn't say it was compulsory, or what would happen if a P14 arrived without a prior P46.

Thanks in advance for your advice!

 

 

Comments
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Not entirely clear

Euan MacLennan |
Euan MacLennan's picture

Hi Euan,

Hobbes007 |

P35 vs P35

TomMcClelland |
TomMcClelland's picture

so its for one of the directors

carnmores |
carnmores's picture

Thanks

Hobbes007 |

P46 penaltiy

Tiverton |

Don't assume P46 is reason for penalty

TomMcClelland |
TomMcClelland's picture

P46 penalty

Tiverton |

HMRC manuals seem silent...

TomMcClelland |
TomMcClelland's picture

Curiouser & curiouser

Tiverton |