Hi there,
Please can someone help me with clarifying a few things...I have dealt with CIS subcontractors and their tax return which was quite straight forward. Now, One of them wants to set up a Ltd co and take bigger contracts on and also take some subcontractors on.
So question:
Once he has the ltd company set up (he'll be the only director) :
1.Need to register as employer/contractor Correct?
2.Need to verify his subcontractors correct?
3.Can I use a Payroll Manager software to prepare his subcontractors' payment certificate?
4.What happens to his pay? Can he still take min wage + dividends?
5.Is he or his company subject to any CIS deductions?
A scottish lady at HMRC I have spoken to was trying to help but we were really not understanding each other![:(]( ":(")
I'd appreciate any help on these or anything else I should know...
Thank you![:)]( ":)")
Vik
Please can someone help me with clarifying a few things...I have dealt with CIS subcontractors and their tax return which was quite straight forward. Now, One of them wants to set up a Ltd co and take bigger contracts on and also take some subcontractors on.
So question:
Once he has the ltd company set up (he'll be the only director) :
1.Need to register as employer/contractor Correct?
2.Need to verify his subcontractors correct?
3.Can I use a Payroll Manager software to prepare his subcontractors' payment certificate?
4.What happens to his pay? Can he still take min wage + dividends?
5.Is he or his company subject to any CIS deductions?
A scottish lady at HMRC I have spoken to was trying to help but we were really not understanding each other
I'd appreciate any help on these or anything else I should know...
Thank you
Vik