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Where Taxpayers and Advisers Meet

How to setup payroll for a buy to let ltd company?

AlexK
Posts:6
Joined:Fri Nov 25, 2016 3:00 pm
How to setup payroll for a buy to let ltd company?

Postby AlexK » Tue Aug 27, 2024 1:36 am

Hi,

I probably need to talk to my accountant about this, but I would appreciate very much if anyone can point me the steps. This would help me what to ask my accountant.

I have BTL ltd company with two directors. The company is now beginning to make money so I would like to pay my other director monthly salary. I understand I need to register with HMRC. Is there a payroll software that I can use to keep track of the monthly payments (free is better!). I guess i need to report the salary paid to HMRC on monthly basis. How is this done? Through HMRC online portal? Or by email? Just trying to understand the process.

Thanks

pawncob
Posts:5172
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: How to setup payroll for a buy to let ltd company?

Postby pawncob » Tue Aug 27, 2024 11:22 am

https://www.gov.uk/paye-for-employers/setting-up-payroll
With a pinch of salt take what I say, but don't exceed your RDA

pawncob
Posts:5172
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: How to setup payroll for a buy to let ltd company?

Postby pawncob » Tue Aug 27, 2024 11:23 am

https://www.gov.uk/basic-paye-tools
With a pinch of salt take what I say, but don't exceed your RDA


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