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Presumably, you're not already registered for self-assessment?
If that is the case, you have ample time to register.
However, you give the impression that you're "thinking on your feet" and, you may not have the necessary know how, as regards the world which you're entering.
May I therefore venture to suggest that, in the very near future, you meet with an accountant (a good recommendation would be the ideal) who should be able to provide you with all the information and support, which you obviously seem to need.
You should treat my suggestion as an "insurance policy" and, one day, I think you'll look me out, to thank me.
You say that you're in a "tight spot" and unable to pay for an accountant.
There are many schemes and ways to pay for accountancy advice and, a good one, will spell out their fee structure, in advance.
Who knows? My powers are not that well honed, but initial signs don't fill me with confidence.
You have already made mistakes, are in the process of making more and will carry on making mistakes until you either seek the professional help you need.
You need to find a way to get professional advice, as Chris said, this doesn't necessarily require immediate financial outlay.
Don't waste your time.
He's already received advice on at least two other forums.
He's probably posted here because he didn't like the advice.
If you call the above number when you have your P45 then you may be able to get an in-year income tax repayment. Don't tell HMRC you are a Director since they will register you for self-assessment and you may or may not need to register, when you have engaged an accountant then they will advise.
Note to moderators - once again (for the umpteenth time) the anonymous feature has been ridiculed and the post has been deleted. This is grossly disrespectful and flagrantly ignores the spirit of the forum.
When will someone take note?
OP:
Hello my beautiful accountants! :D
I'm in a bit of confusing situation, but I'm only just starting my business and I'm in a tight spot atm so unable to pay for an accountant. I'm currently employed full time and recently formed my limited company on the 14th of this month (11/17). I will be leaving my current place of employment on the last day of the month and I'm aware that as a director of my new ltd company I will have to file my self assesment for the current tax year up to April 2018. I'm not planning to sign up for PAYE atm as I'll be paying myself way below the threshold, but I will pay my voluntary NI contribution. When filling my self assesment from what I understand I will have to declare the amount I earned this year from my employment AND as a director. Since my current salary isn't very high, I will probably have overpaid income tax by then. Will this be calculated for me by HMRC according to my earnings when I file my self assesment online? Also, will I have to keep my earnings from the current employer seperate to those as a director? Can anyone shed some light? This stuff is absolutely terrifying to me
DELETED. I will seek advice from an accountant, hopefully not one from these forums.
Touchy :)