Basic PAYE Question - Directors
JamesB
Registered Posts: 51 Epic contributor 🐘
Hi everyone,
just a quick one....using the RTI Basic tools software I put through £7,700 as the gross pay for a director of a Ltd co for 2013/14.
Tax code 944L
paid £500 in Sep 13
paid £500 in Dec13
paid £6,700 in Mar14 (ticked the box that says last payment in the tax year).
When I run the P60 £1,174.10 has been deducted as tax.
Why is this not nil?
confused!
just a quick one....using the RTI Basic tools software I put through £7,700 as the gross pay for a director of a Ltd co for 2013/14.
Tax code 944L
paid £500 in Sep 13
paid £500 in Dec13
paid £6,700 in Mar14 (ticked the box that says last payment in the tax year).
When I run the P60 £1,174.10 has been deducted as tax.
Why is this not nil?
confused!
0
Comments
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Hi
What date did you put for starting with the company? When was the company incorporated?
AB0 -
I may be a bit late with this one, but it looks to me like the 944L is being operated on a week1/month1 basis rather than a cumulative basis. Was a P46 completed when the first payment was made in September? If box B was ticked, then the software would operate the code on a month 1 basis.0
