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Where Taxpayers and Advisers Meet

Search found 22 matches

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by Jetsetter4805
Fri May 04, 2018 12:51 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: P11D online submission mandatory?
Replies: 3
Views: 1777

Re: P11D online submission mandatory?

Many thanks for the response. No P11Ds have been filed in the past and no reminders received as yet. Is there a simple way to notify HMRC that no P11D is due either via the free PAYE software or on the HMRC website? Many thanks
by Jetsetter4805
Thu May 03, 2018 4:16 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: P11D online submission mandatory?
Replies: 3
Views: 1777

P11D online submission mandatory?

Hi all, is it compulsory to make an online P11D submission for myself as Director/employee even if the expenses paid during the year and for reimbursed travel costs and would thus be covered by the 'exemption'? In other words, is it still necessary to make a NIL submission on the HMRC website by 6 J...
by Jetsetter4805
Mon Mar 12, 2018 2:54 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: New HMRC expenses exemption
Replies: 3
Views: 841

Re: New HMRC expenses exemption

Thank you for the clarification. Based on your response it would appear that I don't need to apply for the exemption.
by Jetsetter4805
Mon Mar 12, 2018 2:15 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: New HMRC expenses exemption
Replies: 3
Views: 841

New HMRC expenses exemption

Hi All,

I'm a bit unclear if I need to apply for this new exemption if the only expenses to be paid are reimbursed travel costs of which there are supporting receipts. There are no per diem payments or other allowances being paid. Could someone please confirm?

Many thanks
by Jetsetter4805
Thu Mar 16, 2017 11:56 am
Forum: Income Tax
Topic: UK company dvidends for non-resident individual
Replies: 7
Views: 3463

Re: UK company dvidends for non-resident individual

I'm still a bit confused about 'electing to have a personal allowance'. The PA is automatically applied to my tax calculation. With this in mind, as a non-resident the income tax liability on £30k of UK source dividend income in 2016/17 will result in a NIL UK income tax liability? The only other UK...
by Jetsetter4805
Mon Jan 09, 2017 2:02 pm
Forum: Income Tax
Topic: UK company dvidends for non-resident individual
Replies: 7
Views: 3463

Re: UK company dvidends for non-resident individual

The dividend allowance is £5,000 (effective 16/17). However, if your only UK source income is dividends then your UK income tax liability as a non-resident is capped under the legislation which means that in effect no income tax arises on the dividends irrespective of the amount Thank you for the r...
by Jetsetter4805
Fri Dec 02, 2016 4:15 pm
Forum: Income Tax
Topic: UK company dvidends for non-resident individual
Replies: 7
Views: 3463

UK company dvidends for non-resident individual

I have been non-resident for several years and have recently started to operate through a UK limited co as my main client is UK based and I can easily file the relevant submissions (CT return, annual return etc.) myself online. I still submit UK individual tax returns and was wondering how the £7500...
by Jetsetter4805
Thu Mar 17, 2016 10:44 am
Forum: Income Tax
Topic: Calculating maximum net dividend for 2015/16
Replies: 7
Views: 869

Re: Calculating maximum net dividend for 2015/16

(PA+BRB-(gross interest))*0.9 = £33,647 However, I’d recommend that your company pays you, before 6.4.2016, a minimum salary bearing free Class 1 NIC, to build up your NI record. Getting an accountant to do the RTI reporting need not be costly! While I operate through a UK limited company, I'm not ...
by Jetsetter4805
Thu Mar 10, 2016 2:25 pm
Forum: Income Tax
Topic: Calculating maximum net dividend for 2015/16
Replies: 7
Views: 869

Re: Calculating maximum net dividend for 2015/16

Thank you Sir. I hope you are well.
by Jetsetter4805
Wed Mar 09, 2016 4:34 pm
Forum: Income Tax
Topic: Calculating maximum net dividend for 2015/16
Replies: 7
Views: 869

Calculating maximum net dividend for 2015/16

Could someone please clarify the maximum dividend (up to the 40% income tax bracket) I can pay myself in 2015/16? I received no salary in the UK and have around £3000 gross bank interest received.

Am I right in thinking the net dividend I can pay myself is 10,600+28607-3000 = £36,207?

Many thanks!

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