Solved

Quickbooks registering too much tax for Director salary

9 replies
0 views

Hi

I am just setting up my Quickbooks account, hvaing moved from another accountant. I am a sole director and pay myself the £12,500 lower tax threshold and so shouldn't have to pay any tax on it and no NI until towards the end of my financial year. However quickbooks payroll is immediately trying to deduct quite a lot of tax from my monthly payroll and I can't see why. I am set up as a director in the payroll with the £12,500 salary so I am confused as to why. Can you help?

QuickBooks Online Payroll

K

KateHes1Answer

Hi Becky29. Yes, I've double checked al of that. It's still trying to take tax off me

A

Ashleigh1

Hello KateHes1,

Welcome to the Community page,

Can we ask which payroll it is you are using in Quickbooks is it Advanced or Standard?

K

KateHes1Author

Hi. It's Quickbooks standard

B

Becky29

Thanks KateHes1, Have you checked that the Year to date figures and tax codes, etc is correct? Becky

K

KateHes1AuthorAnswer

Hi Becky29. Yes, I've double checked al of that. It's still trying to take tax off me

B

Becky29

Okay katehes1, Thanks for getting back to us, We still need to check a few things to ensure set up correctly, Have you got the Director NI on or off? This is situated in the employee details section of the payroll. And do you have any figures in the payroll history? and what pay period is it that your running? Becky

S

STBooks

I would love some help with this as well please, as i am doing the exact same thing, and am being taxed quite a bit.

Many thanks in advance!

E

EmmaM

Hello STBooks, Are you using standard payroll or advanced? What is the amount that is being deducted tax-wise? How much has been pay has been paid YTD?

Sign up

Login with SSO

Login to the community

Login with SSO