I was working for couple of years in Construction Industry as LTD. After I finished my last project in 07.2017, I decided to go for travelling for couple of months and close my LTD company at the end of this tax year (31.03.2018). The last payment my company received was obviously in 07.2017 but I am still paying myself a Salary and Divided (from my last year profit transferred over and from some profit for this short year so the value won`t be negative), so I am planning to have an empty account at the end of March and close the company. I have already prepared my accounts and everything for final tax payment so it`s not a problem, but I have got a little problem with PAYE.
All previous years PAYE issues were always taken care of by my accountant and I had the accountant till 06.2017 (I signed him off after that as I knew that I am closing the company, so I don`t need him) and he uploaded first two payslips to HMRC (2x £680 for the beginning of the year) but since I went for travelling I totally forgot to continue uploading it myself during the year... I was paying myself every month £680 and my plan is to pay out a total salary of £8164, to reach the PT.
I went through some information at HMRC web-page and I understand that such small salary, means that I can make the submittion every quarter instead of month? My question is, what can I do with that issue now, to avoid, or at least get small penalty? I have downloaded “Basic PAYE Tool” from HMRC web-side but I am thinking what option would be the best eventually. Can I just simply put that I paid the whole £8164 at the end of the year? There is no NI nor Income Tax due anyway.
Thanks in advance for some advice.