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Posted Wed, 20 Jul 2022 21:18:12 GMT by Peter Hobson
Hi, A bit of a newbie question that help for would be much apprictaed please.... Me and my partner formed our limited company on 6th April 2022. We are using quickbooks payroll. We are the only two employees of the business. In April and May we paid ourselves £800 each both months and then in June we paid ourselves £1900. I thought that we paid our individual tax and NI to HMRC out of our own banks after we had been paid so we paid ourselves the full amounts stated each month 800, 800 & 1900. Today I've logged into the government gateway and realised I should of deducted the tax/NI/student loan funds and not pay that to ourselves and instead send it straight to HMRC. It said we owed £790 for the 1st quarter. So I have now paid the NI contribution from the employer (about £330) in full from our business bank account and then paid the remaining £460 (personal taxes, NI and student loan) from my personal bank account. Is this an issue that I have paid it from my personal account and not from the business account? How do I go about making the transactions match up on quickbooks? And have I done anything really bad/wrong? Sorry if this seems a very basic question. Thanks for any help.
Posted Mon, 25 Jul 2022 15:45:16 GMT by HMRC Admin 10
If you have processed the payment through PAYE then you as your employer should have deducted the tax and NIC from the Gross payment before paying yourself.
As you have reported liabilities to HMRC in the form of Tax and NIC you would need to pay this.
I would contact the department you have paid the funds to and ask if they can refund you or reallocate the payment to your PAYE account.
As for the query about Quickbooks, as this is a 3rd party software you will need to contact them to discuss this.

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