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Self Assessment - not enough money to pay?

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    Self Assessment - not enough money to pay?

    Do you normally take divvies out of your company to pay your Self Assesment bill?
    Or are you more organised than that, putting money aside in your personal bank account?

    Has anyone ever not had enough money to pay? What did you do?
    The pope is a tard.

    #2
    Originally posted by SallyAnne View Post
    Has anyone ever not had enough money to pay? What did you do?
    I'll tell you in February

    Comment


      #3
      Originally posted by SallyAnne View Post
      Do you normally take divvies out of your company to pay your Self Assesment bill?
      Or are you more organised than that, putting money aside in your personal bank account?

      Has anyone ever not had enough money to pay? What did you do?
      Go to prison?
      Blood in your poo

      Comment


        #4
        Originally posted by SallyAnne View Post
        Do you normally take divvies out of your company to pay your Self Assesment bill?
        Or are you more organised than that, putting money aside in your personal bank account?

        Has anyone ever not had enough money to pay? What did you do?
        Get a pay day loan.

        http://www.paydayuk.co.uk/images/ads...s-sky-over.gif

        So the Labour voters can't pay their tax obligations now?



        "We should all pay more tax".

        Comment


          #5
          Originally posted by SallyAnne View Post
          Do you normally take divvies out of your company to pay your Self Assesment bill?
          Or are you more organised than that, putting money aside in your personal bank account?

          Has anyone ever not had enough money to pay? What did you do?
          I always take the proportion of my Divi that will be due as personal tax and whack it in the offset savings account linked to the mortgage.
          Si posse, recte, si non, quocumque modo rem

          Comment


            #6
            I had a directors loan that I forgot/ignored, I thought I would have to pay it back by December to cover the corporation tax bill but I now have next years tax in the account so no need.

            I think I'm ok as long as I put it back in the business account for year end accounts, I can always borrow it back again.

            Is this normal practice or am I being reckless and naïve?
            Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave Johnson

            Comment


              #7
              Take it off the offset mortgage to pay the bill.

              That said, it's never been too high - just don't work as much, it will increase your quality of life and decrease your tax bill.

              It's time to be free.
              Best Forum Advisor 2014
              Work in the public sector? You can read my FAQ here
              Click here to get 15% off your first year's IPSE membership

              Comment


                #8
                Originally posted by SallyAnne View Post
                Do you normally take divvies out of your company to pay your Self Assesment bill?
                Or are you more organised than that, putting money aside in your personal bank account?

                Has anyone ever not had enough money to pay? What did you do?
                I tend to keep a sort of running total in my head, whats coming in, whats going out. So I might have 11k in my current account right now, but I know that I actually only have £500 spare.
                £1k tax in Jan
                £3.5k ISA
                £5k dole provision
                £1k living exies for one month

                tax bills covered at least 6 months in advance

                Have never been in the clag so far, lucky ,lucky ,lucky.


                (\__/)
                (>'.'<)
                ("")("") Born to Drink. Forced to Work

                Comment


                  #9
                  Originally posted by SallyAnne View Post
                  Do you normally take divvies out of your company to pay your Self Assesment bill?
                  Not anymore - have it in a savings account.

                  Or are you more organised than that, putting money aside in your personal bank account?
                  I refer the lady to the answer I gave moments ago.

                  Has anyone ever not had enough money to pay? What did you do?
                  Stopped drinking and sorted my life out.

                  Every divi I pay is split. 60% to me 40% to the 'tax' savings account. Come Hector's payday I give him his pound of flesh and usually there is a little tickle left over for me.

                  Comment


                    #10
                    Originally posted by SallyAnne View Post
                    Do you normally take divvies out of your company to pay your Self Assesment bill?
                    Or are you more organised than that, putting money aside in your personal bank account?

                    Has anyone ever not had enough money to pay? What did you do?
                    Why dont you get an accountant? I pay all my taxs quartely VAT/Inc Tax/NI just Corp tax annually. Also Dividends should be paid after tax is deducted.

                    Comment

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