Self assesment - do i need to pay it

[notescontractor]

Hi,

I have a ltd company and work as an employee to the company. I pay corporation tax and NI and tax on the salary that I get paid as a paye.

I have just been sent a self assesment tax bill for several thousand pounds and am not sure what this is for. I have spoken to my accountant however he is old and doesnt understand it either.

Could someone please explain why i should be getting a self assesment bill on top of my corporation and paye tax?

Many thanks

[Flubster]

Assumming your're not trolling....the tax from the self-assessment relates to tax on your personal income whereas Corporation tax is the tax on yourCo's profit.

1. Pay the tax
2. Get a new accountant

HTH

[Pondlife]

Assumming your're not trolling....
HTH

I have now been in my contract for 4.5 years and have just been given another extension, although i haven't signed it. I have also just accepted a permie job offer and they are desperate for me to start in 2 weeks.
If i haven't signed my contract am i bound to honor the 4 weeks notice period? (not sure if it matters but i am 2 weeks into my extension)

cheers

Linky

[notescontractor]

Not sure what trolling means?

[Pondlife]

Ok I'll bite...

You've been a director of a Ltd company for about 5 years, correct?

And this is the first time this has happened???

What happened to all the profit the company made? Or did you pay it all as salary?

And your accountant knows none of this cos he's old???

[Purple Dalek]

Not sure what trolling means?

[Xenophon]

Not sure what trolling means?

http://en.wikipedia.org/wiki/Internet_troll

[TheBigYinJames]

http://en.wikipedia.org/wiki/Internet_troll

Oh please let that be a Rickrolling link.....

[Xenophon]

Oh please let that be a Rickrolling link.....

Oh, now that would have been good.

Damnit!!

[oracleslave]

Oh please let that be a Rickrolling link.....

Is there any point anymore now that he's won?