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Director of Limited Company looking for full time employment in another Business

  • Thread starter Thread starter james_l
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james_l

Hi,

Firstly apologies if this is in the wrong location, it seemed the most apt section for my issue.

Three years ago I set up a Limited Company so I could do some IT contracting. I have now been offered a non-director role in another Limited company and will need to be set up on their payrole (PAYE), in order to do this I assume I would need to issue a p45 to myself?

My question to you is: is this do-able? Ideally I want to wind up the company after paying off its outstanding tax liabilities..

Cheers,

James
 
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Hi Elain,

thank you for the quick reply, I am indeed taking a Salary from the company (just under the personal tax allowance) the rest made up from dividends.

My accountant appears to be AWOL at the moment which is why I resorted to this un-informed post, when she re-appears I will seek advise on closing down the company
 
Upvote 0
Cheers for the help, ok, so just so I have this right I need to do the following:

- Ask my accountant to stop paying me a salary on paye.
- Fill in a p46 when I commence employment at the next company.

If I am to stop my PAYE salary should I issue a p45?
Also are you aware of any complications that might arrise from me being the Director of my current company (til it gets wound up) and also a member of staff with the new company?
 
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If you are still taking a salary out of your own company prior to transferring over to the new company, then your own company should issue you with the Form P45 which then be passed on to your new employers.
 
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