The Book-keepers Forum (BKF)

Post Info TOPIC: Help running payroll for the first time!


Newbie

Status: Offline
Posts: 3
Date:
Help running payroll for the first time!


I have just run payroll for the first time, but it's very confusing and I want to make sure I've done it correctly - can anyone help? 

 

I have submitted an FPS for the director and only employee. It is late but I was waiting for the activation code for PAYE from HMRC. 

 

The director got paid £719.33 by BACS, and so in the taxable pay section of the FPS I put in this figure. Is this right? 

It's showing that we will then owe HMRC when it's processed £143.80, but I think this is wrong. 

 

Can someone help? 

(and if I have done it incorrectly, what do I do now?) 

 

Thank you!



__________________


Master Book-keeper

Status: Offline
Posts: 8646
Date:

Are you a bookkeeper?

 

 

Edited to correct a typo

 



-- Edited by Cheshire on Tuesday 15th of October 2019 04:53:55 PM

__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position



Master Book-keeper

Status: Offline
Posts: 8646
Date:

What has your Accountant suggested as the optimum salary based on your personal circumstances?

__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position



Newbie

Status: Offline
Posts: 3
Date:

No, I am helping my partner out with his business (he is the director mentioned), so I am doing my best!

__________________


Newbie

Status: Offline
Posts: 3
Date:

£8632



__________________


Master Book-keeper

Status: Offline
Posts: 8646
Date:

There is insufficicent information to answer your query, but regardless of this fact, this is a forum for professionals not for giving free advice to business owners and their partners.

As you have no idea what you are doing running payroll, why are you not asking your Accountant to do this?

I mean what will it cost - a tenner/twenty? Will save you a fortune in the long run.

 

Edited to correct a typo - my spelling is terrible today!









-- Edited by Cheshire on Tuesday 15th of October 2019 05:28:17 PM

__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position

Page 1 of 1  sorted by
Quick Reply

Please log in to post quick replies.

Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About