Self Employed Payment Scheme

We logged onto the gov.uk website this morning and were squared away within 10 minutes

If anyone else is self employed and hasn't done it yet you should have received a log in day, you can get this online too

well done HMRC.

 

That constitutes praise for the Government.

Steady on...there'll be a lynch mob round your house soon, now we can all drive as far as we like.

 

You can't just turn up at his house and stand gawping. You have to either exercise or sunbathe at him.

 

Am I allowed these days to shout out "Hello sailor"?

 

Relight. Where’s he live. I’m getting a posse together.

 

Only from 2 metres away

 

Yes, if you're in Portsmouth. Not much point round here.

 

you can indeed! Remember though just because its legal doesn’t make it compulsory.... a motto worth noting for many things!

 

The consumption of gherkins springs to mind.

 

Pleased you got sorted mate.

I originally thought I'd get this, but as i operate under a Limited Company I don't.

I was then told to furlough myself, but this was rejected, as I don't pay myself through PAYE, rather by dividend on my tax return.

Now been waiting a month for Universal Credit.

**** the Tories.

 

Presumably you've structured yourself (or been told to) in a certain way in order to maximise the benefits of the tax system?

 

I did mine today too and was very impressed how smooth and easy it was.

 

I was asked to do it by a few large companies I work for & my accountant deals with everything tax wise. I was a sole trader for 20 years, but dealing with the likes of the Devonshire Estate (Chatsworth House / Bolton Abbey), they only deal with corporates. As far as I was made aware, the tax advantages were very minimal & the increased fees & costs for my level of business (one that operates below the VAT threshold of £85k), they are pretty much non existent. If there are any accountants on here, they could no doubt comment on this. There is also an issue in music regarding copyright, which means everyone sets up a company to protect them from claims from third parties.

Hope this answers your question.

 

An old colleague of mine who set up his own consultancy business posted the same today. He says it was all sorted pretty quickly so all good.

 

Why do you pay yourself in dividends instead of paye?
Does dividends mean you only get paid from your company once a year or have I got that completely wrong?

 

You pay less tax by doing through dividends as opposed to PAYE.
I pay myself a fixed amount each month but the dividends are worked out yearly for my annual tax bill.

 

Good to hear.

 

Yes, got mine through in about 5 minutes on Friday.
And exactly the amount I'd anticipated.

 

I do the same, I pay myself a basic wage, I also draw out a retainer every month that a club pays me & I pay myself the money I pay other DJs for any gigs I do personally, but my tax isn't paid by PAYE. To be honest I didn't even know it was an option.