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I have been paying myself a regular monthly salary, but now I do not have sufficient funds to continue paying this level of salary. Can I just pay myself a lesser amount (or zero) in the remaining months of this tax year?
I use the HMRC real-time software, so I was wondering how this would handle the situation. I guess I just enter the lesser amount in each remaining month. Will it let me enter zero as a monthly amount I wonder?
Also, would the system automatically refund any overpayment of NI and/or tax, or would this just get sorted out when I submit my tax return (not sure how the NI would be refunded in that case)?
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jajae
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