Basic PAYE tools - Employee start date?

[Mr Qwak]

Hello,

I'm a little unsure what to enter for my start date (in HMRC basic PAYE tools).

I am the director and sole employee of my limited company. My company started 1st April 2012 (became active, and start of first accounting period).

I've only just recently registered for PAYE as a new employer. I informed HMRC that my first payday will be 8 March 2013.

I've had no personal income for this current tax year, so I want to pay myself a lump sum as PAYE (around £8k). After this, I will pay myself a regular monthly amount.

So, in the HMRC basic PAYE tools, for:

'Employee pay period' - do I select Monthly or Annually?

'Start date' - what should I put here? beginning of the year (Jan 1) is that ok?


Thanks,

 

[Mr Qwak]

Help! I've just entered some data in to the basic PAYE tools; haven't payed myself at all yet for period April 6th 2012 to April 5th 2013. Wanting to PAYE myself about £8k, but the national insurance is coming out really high:

Employee's contributions: 714.23
Employer's contributions: 825.80
Total contributions: 1540.04

Isn't that a little high for only 8000 PAYE covering the entire year?

Any idea what did I do wrong?

Thanks,

p.s. Can't post link (screenshot of NI section of pay details), but happy to supply by PM.

 

[Lentinus]

Try £7,488 per year/£624 a month

 

[kevin.doran]

Start date 1/4 should be fine, salary £7488 and remember to mark yourself as a director for NIC purposes.

 

[Mr Qwak]

Thanks. I changed some of the information, relating to the employee. I now have:

Employment Details:
Pay Period = Monthly
Irregular Employment = Yes
Tax Code = 810L
NI Category Letter = A

Starter Details:
Start Date = 06/04/2012
Starter Declaration = This is my first job

Director Details:
Director = Yes
Directors' NICs and method of calculation = Cumulative
Date Appointed = 06/04/2012

For the employee pay details I have an amount of 7488.

Seems to be coming out fine, with no NIC to pay. Don't think I've missed anything. Does the above look okay, is there anything else I should check before submitting?

Once I submit, presumably I just transfer the funds from my business bank account to my personal bank account?

Thanks again for you help, first time I've done this.