My Accountant messed it up

[Salt&Pepper]

Hi All,

I religiously paid myself a £147.50 salary a week, to stay below the secondary threshold.
When I received the first draft of my accounts I noticed the tax bill was too low..so I sent it back to my accountant who on second review realised my tax free allocation for this year was ca£3600 and not the £7670 I was expecting because he had to make an adjustment from the previous year.

Had I known this instead of paying myself a salary I would have made a pension contribution and now I am facing a corporation tax bill which is ca £700 more than expected.

I have not signed the accounts yet. Is there anyway this can be rectified? Like retroactively making a pension contribution or postponing this salary allowance adjustment to next year?

It looks like I can't get a straight answer from my accountant which I will no doubt change.

Best regards,

Alan

 

[faradaykeynes]

If your salary RTI have been submitted then unfortunately you cannot change salary dates.

 

[UK Contractor Accountant]

You can not rewrite history -the payroll reports showing £147.50 weekly pay have been filed with hmrc under the RTI scheme.

What you can do is shorten the current accounting period for the company, calculate the pension contribution/salary split required to wipe out the profit for the current period and the previous years profit.

You will generate a tax loss for the shortened period which can be carried back to the previous year to generate a refund of the tax paid/payable.