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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 3816
Experience:  FCCA FCMA CGMA ACIS
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My wife is a PAYE. She is doing (currently) occasional unpaid

Customer Question

My wife is a PAYE. She is doing (currently) occasional unpaid work for a small start-up company. They have asked that she buy shares to the value of £1000 and then invoice further work to the value of £1000. They have offered to transact PAYE or that she invoices and then obviously settles her own tax. We don't want my wife to get tangled in having to do a tax return or to get involved in VAT for what seems a simple transaction but simply to pay the tax owed on the work. What should she do?
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question. I do not think she need concern herself with VAT. Their is no requirement to register for that tax until her turnover reaches 82K in any one year. The simple solution is for her to be paid under PAYE. She will then be tax neutral at the year end assuming that the tax code issued by HMRC to her employers is correct. It is always a good idea to check these every time a new one is issued. I do hope that my reply, ask for PAYE, is of use.

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