PAYE Tax Refund

[FlyFishing]

I work as a freelancer ( have a limited company ) and i may not work the final months of this year. ( holidays )

If for the same of simplicity i paid myself 10euros, would that mean that i would be reinbursed for some tax.

The reason i ask is that if i do this then i can reclaim back some tax next month rather than having to wait next year. ( end of PAYE financial year )

 

[Graham_07]

Re: tax

If you have no PAYE income in latter part of the year then (assuming no other income either which ought to be declared) any unused tax credits or standard rate cut-off point may indeed produce a refund on tax plaready paid. You have 12 months credits/cut-off, if you only have 10 months income then there would be an adjustment.

PS I believe you may still change the thread title after submitting and would suggest that you do so to make it more clear.