Tagged: One Man Companies

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RTI Payroll For Director Quarterly/Annual Payrolls

25th February 2013

Question: How can a one man company in Guildford keep its payroll costs down after 6 April 2013? Answer: If its just a payroll for directors, it could pay them their annual salary in April, and submit an "inactive report" to HMRC under the new RTI payroll scheme in April for the remainder of the year, leaving the inactive date end blank. As yet, not many accountants are aware of this short cut yet. This way, payroll costs can be minimised. Whoever is doing the payroll though will need...