Pay-as-you-earn Archives | Taxfile

How do I pay myself as a Director?

Taxfile — Tue, 23 May 2023 15:19:05 +0000

This is a question we often face from new company directors, how to pay yourself from the company. As part of our £375+VAT package for a new limited company we offer the following; company formation (including the option to have the company phrased as a special purpose vehicle for a property rental company) we will […]

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PAYE, 2021/22 Tax Thresholds, Employment Allowance & P800s

Taxfile — Tue, 08 Jun 2021 15:48:22 +0000

My name is Daniel and I have been a part of the Taxfile family since 2007. It started as a part-time job doing bookkeeping, but as time went on, I developed new abilities and a deeper understanding of the tax world. PAYE, VAT, and Company Register are now my areas of expertise. I understand how […]

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Furlough Scheme Extended until End of September

Taxfile — Wed, 03 Mar 2021 13:43:12 +0000

In The Chancellor’s 2021 budget speech it was announced that the furlough scheme would be extended until the end of September 2021, to protect the jobs and livelihoods of the UK population during the pandemic. The Government will pay employees 80% of the hours not worked through to the end of June 2021. As the […]

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Coronavirus Job Retention Scheme Extended

Taxfile — Wed, 25 Nov 2020 11:19:21 +0000

[UPDATED FEBRUARY 2021] The Coronavirus Job Retention Scheme is being extended until 30 April 2021. As a result of the ongoing pandemic, the Government’s response has been to extend the furlough scheme at the original 80% level. For now we know this will extend through to the end of April 2021. From 1st November 2020 […]

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“Pay As You Go” Self-Assessment is on it’s way!

Mark — Mon, 14 Dec 2015 12:23:13 +0000

A few years ago Guy Bridger, from Taxfile, was helping to advise The Office of Tax Simplification and the then Director Michael Jack. Guy proposed that, while the bulk of the working population have their taxes calculated by their employer and therefore pay taxes in ‘real time’ with clarity, ease and convenience, the same was […]

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RTI (Real Time Information) – last Full Payment Submission (FPS) due soon

Mark — Thu, 06 Mar 2014 17:33:11 +0000

Exactly eleven months ago at time of writing, HMRC launched ‘RTI’ (Real Time Information) in the UK. This is the mechanism through which employees now have to report PAYE information for employees on the day it actually happens, or alternatively before that day, for example to confirm to HMRC each time an employee is paid […]

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It’s official: thousands are on the wrong tax code!

Mark — Thu, 30 Jan 2014 14:10:19 +0000

With the tax return deadline being only hours away (midnight 31 January 2014) there is still time to get professional help if you need it – particularly because HMRC often get it wrong according to new research by UHY Hacker Young. In just one example, HMRC sent a tax bill to a pensioner which demanded […]

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Overpayment of tax through PAYE

Taxfile — Wed, 06 Feb 2008 10:47:00 +0000

PAYE (Pay As You Earn) is the system used by employers and pension providers to deduct tax from your wages or pension. If you think you’ve paid too much Tax through PAYE you can contact Taxfile‘s tax accountants in South London and they will clarify that for you. HM Revenue & Customs (HMRC) gives you […]

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