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Payroll for Director

outside of the tax month

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Hi,

I have just taken on a one-man (director) company. I am processing payroll for them for July and August with a payment date 05/10/2018.

Under RTI he should not receive any penalties I believe.

However due to the wrong tax code he wants to hold off September payment until he gets it sorted. If he doesn't get it corrected by 05/11 is it enough if I submit EPS and then process the payment in the next tax month?

Thank you in advance!

 

 

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09th Oct 2018 09:43

How significant is the tax code difference. i.e. is it worth delaying payroll for?

As a director, it doesn't really matter when the payroll is processed, the end result will be the same. However, he should be aware that withdrawals in the meantime will be debited to his DLA which, if it exceeds £10k, will give rise to a BIK.

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09th Oct 2018 09:46

Did you not like the answers that you received last time you asked this question?

https://www.accountingweb.co.uk/any-answers/payroll-for-director-1

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