Lump sum salary payment

[VFV]

I will be shutting down my LTD in November and wonder if there are any implications of paying myself a lump sum as salary?

I have been paying myself a salary of £670 since April and plan to pay 670*5 in November to take full advantage of my allowance. I am taking a break so the assumption is that i will not open a new LTD in the current tax year.

Thanks

[northernladuk]

There is a good thread on this at the link below bit your situation is slightly different. Yours sounds more like a contrived solution to avoid paying tax which isn't good news. You aren't going to earn it over coming months with you closing the company. If you kept the company open it wouldn't be a problem I don't think. Saying that you set your own pay levels so a one final big salary although looking odd isn't out of the question. One for your accountant I would say.

Thread is here.

http://forums.contractoruk.com/accou...y-advance.html