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Tax Breaks for Directors - Part 1 Directors only - 3. Your salary - 3.6. How much tax will you pay? - 3.6.1. PAYE codes and underpayments of tax
3.6.1. PAYE codes and underpayments of taxYour salary as a director should have most of the tax due deducted under the PAYE system before you receive it. However, if your total income increases or your PAYE code was incorrect for any reason, e.g. a benefit in kind had not been taken into account, you may have some additional tax to pay under the self-assessment system. Where HMRC reduces your code number after the tax year has started it means that you won’t have paid enough tax for the period prior to...Click here
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