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Stopping salary part way through year
by jajae at 11:35 10/12/13 (Ask-Legal-Accounting)
What happens if I am forced to stop paying myself a salary part way through a tax year?
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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Stopping salary part way throu... jajae - 10/12
    Re: Stopping salary part way t... BarryRoback - 10/12
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