Close

Results 1 to 3 of 3
  1. #1
    DF VIP Member steiff1's Avatar
    Join Date
    Oct 2006
    Location
    lincolnshire
    Posts
    301
    Thanks
    138
    Thanked:        41
    Karma Level
    233

    Default from self employed to PAYE again

    Guys

    I am currently self employed, I'm an inspector in the oil and gas game. however, I recently applied for a job, which said LTD companies welcome to apply, so I did.
    they have replied saying there are staff positions available. on a 16/12 rotation. so only 184 days a year.
    but the money is very good.

    however at 20% the taxman takes a large slice, and then I work out not much better off financially, from my current position I am in. I am currently home every night, but only gets weekends free, and work 10hrs mon-fri. the 16/12 gives me much more time off.

    obviously there are no paid holidays as I am ( LTD Co) or in the staff job, as its rotation leaves you the time to take a break whenever you like on your time off.


    I've only changed from PAYE to LTD, not the other way round..

    has anyone here done that, how did you find the change back to PAYE?

  2. #2
    DF Moderator EvilBoB's Avatar
    Join Date
    Jan 2001
    Location
    Bedfordshire
    Posts
    6,353
    Thanks
    583
    Thanked:        620
    Karma Level
    606

    Attention Re: from self employed to PAYE again

    To change back to PAYE you should just give the company your PAYE details and stop trading as a LTD company.

    Obviously this isn't all - you will need to do your end of year and stuff as normal and close the company down (If you want to of course)
    DF Moderator
    XBox One | Panasonic 4k | MS Surface Pro 3 | 3DSXL | WiiU | RPi3
    XBL : TheSumOfAllEvil

  3. #3
    DF VIP Member hoponbaby's Avatar
    Join Date
    Nov 2000
    Posts
    996
    Thanks
    155
    Thanked:        218
    Karma Level
    334

    Default Re: from self employed to PAYE again

    You should be set up as an employee of your ltd company so mark yourself as a leaver on the payroll and give the p45 to your new employer. As evilbob has said you then do the ltd accounts as normal and pay any resulting ct then either close or just keep as dormant.

    From a pure income point of view if they are offering the same top line as either salary or through ltd you should be significantly better off through your own company as long as the contract and working practices are ir35 safe

Similar Threads

  1. Self employed - any advice?
    By ZX7R in forum Job Centre
    Replies: 7
    Last Post: 5th December 2006, 09:31 PM
  2. self employed/tax and invoices.
    By LiquidJay in forum Job Centre
    Replies: 7
    Last Post: 11th November 2005, 10:39 PM
  3. software for self-employed tax
    By flypitcher in forum The Dog and Duck
    Replies: 12
    Last Post: 6th February 2004, 12:31 PM
  4. Employed or ?
    By Aware in forum The Dog and Duck
    Replies: 18
    Last Post: 22nd September 2002, 11:01 AM

Social Networking Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •