PAYE Tax Credit

[TTI]

Hi,

I am currently a Director of a Limited company and will be drawing a wage this year from the company. I understand that I will not be able to use the PAYE Employee Tax Credit.

If I subsequently take on some part time work this year as a PAYE employee in another company can I then avail of the PAYE employee tax credit? In that case can it only specifically be used against the PAYE incomine?

 

[DB74]

Yes and Yes

 

[dublin66]

The PAYE tax credit depends on what percentage you own of the company. 15% is the figure and above this you don't get the tax credit.

 

[mandelbrot]

The PAYE tax credit depends on what percentage you own of the company. 15% is the figure and above this you don't get the tax credit.

He appears to have already confirmed that where he says he's not entitled to it.

Also evident from the statement that he'll be drawing a salary - the language of someone who gets to choose... not a <15% type of statement..!!