Personal tax for limited company

[smileyface]

I have a limited company from 6th April and pay the usual income tax, corp tax and any income I take as dividends.

Fast forward a couple of years, is it true the income tax is paid in advance, as opposed to in arrears like corp tax?

If so, how do you know how much to pay? Is it based on estimates?

[TheFaQQer]

It's not entirely true.

Based on the current year's tax, HMRC will ask for payment on a account to cover the amount they suspect you will owe the following year. If they get it too high, they pay you interest.

When your tax is assessed, then you pay it - either from the payment already on account or top it up if you owe more.

[suityou01]

I need to see your film collection first.

Got anything with gladiators in?

[ctdctd]

Income tax?

Are you sure you are cut out to be a Contractor?

[suityou01]

Probably hasn't even tried bleeding the radiators.

Lawd knows how grubby his ninja is.

[Doggy Styles]

I have a limited company from 6th April and pay the usual income tax, corp tax and any income I take as dividends.

Fast forward a couple of years, is it true the income tax is paid in advance, as opposed to in arrears like corp tax?

If so, how do you know how much to pay? Is it based on estimates?

If you are taking 'any income as dividends', why are you paying income tax?

[TheFaQQer]

If you are taking 'any income as dividends', why are you paying income tax?

Because it's over the higher rate threshold.

[scooterscot]

Just had to pay tax for 2013, 2014, & 2015. But that's Germany for you. They don't want to leave any loose ends.