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KateHes1
May 28, 2020
Solved

Quickbooks registering too much tax for Director salary

  • May 28, 2020
  • 3 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? 

Best answer by KateHes1

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

3 replies

A
Ashleigh1
May 28, 2020

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
May 28, 2020

Hi.  It's Quickbooks standard

 

B
Becky29
May 28, 2020

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

K
KateHes1AuthorAnswer
May 29, 2020

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

B
Becky29
May 29, 2020

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
December 14, 2020

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
December 14, 2020

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?

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