Limited Company Accounts
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moosh
Registered Posts: 28 Regular contributor ⭐
My brother in law would like me to do his accounts/tax return. He currently has an accountant carrying out his accounts for him. He is the only employee of his limited company and is paid the minimum wage. The profits of the company after taking in to consideration his wage, mileage allowance,PAYE and corporation tax is paid to him in full. What do I need to do then - should he pay tax on the amount he receives as though it is a dividend? Also, the company carrying out his accounts at present don't seem to have deducted employees or employers NI before calculating the profit - is that correct? HELP:001_smile:
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