p46

raq

a chap done a little work for our business over the christmas holidays, only small but still.

He has completed the p46 form but hmrc are saying I need to register this information on line

HAVE NO CLUE ON WHICH AREA TO GO ON

Any ideas. ( We as a company are registered on line though )


Thanks

[Deleted User]

Are you already registed for PAYE?

http://www.hmrc.gov.uk/paye/intro/register.htm

raq

Deleted_User wrote: »

Are you already registed for PAYE?

http://www.hmrc.gov.uk/paye/intro/register.htm

we have been a tiny company for 7 years and do a self assessment every april. Is this what you mean??

The guy looks like he will continue to do the odd few hours which will be over £107.00 per week .

I am a little confused as I did get told two things:

1. you will have a paying in book sent to us for this chap to pay his tax

or

2. hmrc stated to me this morning that it isn,t like that. We will have to complete the P46 on line and then deduct the paye from him

I haven,t got a clue to do it if it is the second one.

HELP

adolphin10

raq wrote: »

we have been a tiny company for 7 years and do a self assessment every april. Is this what you mean??

The guy looks like he will continue to do the odd few hours which will be over £107.00 per week .

I am a little confused as I did get told two things:

1. you will have a paying in book sent to us for this chap to pay his tax

or

2. hmrc stated to me this morning that it isn,t like that. We will have to complete the P46 on line and then deduct the paye from him

I haven,t got a clue to do it if it is the second one.

HELP

You will need to process a payroll for him which I assume you are not doing at the moment?
Do you have an accountant that could assist with this?
If not I believe there are online tools on the hmrc website to run a payroll. When a P46 is received it is no longer posted off but would need to be 'filed online'

raq

adolphin10 wrote: »

You will need to process a payroll for him which I assume you are not doing at the moment?
Do you have an accountant that could assist with this?
If not I believe there are online tools on the hmrc website to run a payroll. When a P46 is received it is no longer posted off but would need to be 'filed online'

No accountant as it is only my husband

Yes hmrc did state they had online tools ( sooo scary )

Once i got my pin number from hmrc i gather I can then file online??

Also when this chap does some work for us would I have to update the payroll system as soon as we pay him. i.e. he worked for a week over christmas then 3 days last week??

Also another question sorry.

He got paid £160.00 last week so how would i register this into our accounts book.

Would it be £160.00 or the figure that will have had the tax taken off??

Any help would be great

thankyou

adolphin10

Hi Raq

On that amount for a weekly figure there will be tax and NI to add on.

in the accounts you would need to show this as £160 in the wages and then the relevant amount of tax and NI in a suspense account where it sits until you pay it then you move it to the PAYE account. However I am not so experienced in the accounts side of things this is how ours works but you may not need the suspense account.

If you PM I may be able to help further particularly with the payroll side of things

Angela

raq

adolphin10 wrote: »

Hi Raq

On that amount for a weekly figure there will be tax and NI to add on.

in the accounts you would need to show this as £160 in the wages and then the relevant amount of tax and NI in a suspense account where it sits until you pay it then you move it to the PAYE account. However I am not so experienced in the accounts side of things this is how ours works but you may not need the suspense account.

If you PM I may be able to help further particularly with the payroll side of things

Angela

just did , thankyou

[Deleted User]

Being registed as self employed is not the same as being registed as an employer for PAYE purposes, you need to check with your tax office and then register with the online services here http://www.hmrc.gov.uk/

Then submit your P46 that way. If you have no knowledge of PAYE it really might be wise to use a payroll bureau as mistakes can be costly. With RTI being introduced in April, further requirements to submit pay infomation will become mandatory and carry heavy fines for non compliance.

£160 (weekly) attracts £2.28 employers NI to factor into your costs, you don't have to add tax on this as it is deducted from gross pay.

£160 to employee means they will pay around £1.68 NI and £0.80p
tax leaving a Net Pay £157.52 (rough guess assuming normal tax code and not taking into account pay to date figures.

I really would advise you to outsource this.

raq

thanks but how do I cannot a payroll bureau??

For the short hours he works it makes me think not to bother taking him on. , sadly we need to sometimes to take the pressure off my husband

So much to do for so little work on the paperwork side of things.