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kiosk wrote:I looked to attach this to a existing post, but this seems unique.
I am a minority shareholder 5%, and also on the board of directors.
This is a American LLC company thats owns a UK company that I was employed at. The UK company stopped payroll 2 months ago and the US company started paying me.
The problem is, The US company (that I am a director) paid me in cash. Meaning direct deposit, no taxes taken out, like a contractor.
So I will claim this full amount to the HMRC as employed and have UK taxes taken out.
Does anyone have an experience as what is the best way to report this £15,000? Cash bonus? Salary? payment in lieu of notice? etc?
Self employed income
I do not want the UKba to say 'where are your class 2 or class 4 NI payments'. There are none, HMRC considers me employed - right? And since I just received this money, I am thinking I can make a quick class 1 payment to show UKba it is taxed income.
U have to report HMRC about such rcpts as these r not PAYE
Before claiming from HO get NI letter to make it simple
Please please, help with any guidance or offer of service.