Hi all,
it seems I am in rather a quandry and would appreciate advice please. I have been onto Revenue and received some help but not clear answers.
I am employed, 34 hours per week. Employer pays all usual taxes etc and I have always submitted my Health Expenses and claimed relevant tax credits using the PAYE system. All very straight forward...
In Oct 2011, a close friend had to change his employment status from 'employed' to 'self employed' on the advice of his professional body.
I was asked to be a Director in the establishment of this Limilted Co, and was assured by his accountant (who is also the account for my employer) that it would not affect me, they just needed name, signature PPS no etc and signatures.
The limited Co is registered since Nov 2011.
I went onto PAYE Anytime today to submit my health expenses for 2011 and could not proceed with my claim as I am now registered for Income Tax Returns (Or something similar!) I rang my local Revenue office and was told to submit a completed FORM 11, that I can no longer use the PAYE system!
Just printed the Form 11 - 24 pages long and none of which do I have the information for. I am very annoyed at this change to my own personal situation, especially as I do not benefit at all in anyway from being a director on this Ltd. Co. I realise I may not gather any sympathy here but I really was assured it was only a signature etc required and I would remain unaffected.
Can anyone please advise me of:
(a) Any other changes that I am unaware of in now being a named Director
(b) Is it possible to removed my name as Director and just return to my normal, simple PAYE life?
(c) Is there any easier way now claim my own personal health expenses? I was advised by Revenue I cannot do this online and I have no idea how to complete the 24 page form or the info required.
Many thanks as ever in advance...
it seems I am in rather a quandry and would appreciate advice please. I have been onto Revenue and received some help but not clear answers.
I am employed, 34 hours per week. Employer pays all usual taxes etc and I have always submitted my Health Expenses and claimed relevant tax credits using the PAYE system. All very straight forward...
In Oct 2011, a close friend had to change his employment status from 'employed' to 'self employed' on the advice of his professional body.
I was asked to be a Director in the establishment of this Limilted Co, and was assured by his accountant (who is also the account for my employer) that it would not affect me, they just needed name, signature PPS no etc and signatures.
The limited Co is registered since Nov 2011.
I went onto PAYE Anytime today to submit my health expenses for 2011 and could not proceed with my claim as I am now registered for Income Tax Returns (Or something similar!) I rang my local Revenue office and was told to submit a completed FORM 11, that I can no longer use the PAYE system!
Just printed the Form 11 - 24 pages long and none of which do I have the information for. I am very annoyed at this change to my own personal situation, especially as I do not benefit at all in anyway from being a director on this Ltd. Co. I realise I may not gather any sympathy here but I really was assured it was only a signature etc required and I would remain unaffected.
Can anyone please advise me of:
(a) Any other changes that I am unaware of in now being a named Director
(b) Is it possible to removed my name as Director and just return to my normal, simple PAYE life?
(c) Is there any easier way now claim my own personal health expenses? I was advised by Revenue I cannot do this online and I have no idea how to complete the 24 page form or the info required.
Many thanks as ever in advance...