Hi all,
Apologies if this has been asked before but I couldn't find a related thread.
For tax year 19-20 I worked both as a limited company contractor and PAYE contractor and wanted to understand how to complete my self assessment.
From Apr 19 to Sep 19 I paid myself a small monthly self-salary and a dividend. From Dec 19 onwards I was paid via PAYE via the company I work for now.
I'm unsure how to complete my self assessment in regards to the self-salary and dividend. Since I am PAYE now, would any part of the self-salary already have been taxed? And would I still be able to use the personal allowance or would this have already been used part of the PAYE salary?
Also, I haven't done anything with regards to the HMRC PAYE tool. Would I need to submit the final submission and then leave there as an employee of my limited company.
I've kept my limited company open for now in case I return to it so it's basically sitting dormant from Sep 19 and I will need to do a corporation tax return as well. I am planning on withdrawing a dividend for the current tax year at some point.
If you are able to provide any advice or guidance that would be much appreciated.
Many thanks in advance
Michael
Apologies if this has been asked before but I couldn't find a related thread.
For tax year 19-20 I worked both as a limited company contractor and PAYE contractor and wanted to understand how to complete my self assessment.
From Apr 19 to Sep 19 I paid myself a small monthly self-salary and a dividend. From Dec 19 onwards I was paid via PAYE via the company I work for now.
I'm unsure how to complete my self assessment in regards to the self-salary and dividend. Since I am PAYE now, would any part of the self-salary already have been taxed? And would I still be able to use the personal allowance or would this have already been used part of the PAYE salary?
Also, I haven't done anything with regards to the HMRC PAYE tool. Would I need to submit the final submission and then leave there as an employee of my limited company.
I've kept my limited company open for now in case I return to it so it's basically sitting dormant from Sep 19 and I will need to do a corporation tax return as well. I am planning on withdrawing a dividend for the current tax year at some point.
If you are able to provide any advice or guidance that would be much appreciated.
Many thanks in advance
Michael
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