Pay Yourself

Dividend scenario 5

Deposits by the director Let’s say a Director deposits £1000 of his own money into the company bank account. This money is then used to pay for the company’s expenses. The Maximum Dividend available will reduce by £1000 because of the expenses that have been recorded. However, the bank balance ...

Dividend scenario 6

Difference between expenses recorded and paid for Dividends are calculated from your Net Profit. The Net Profit is reduced by Expenses Recorded, not Expenses actually paid for. For instance you might record a purchase of a filing cabinet for the office at £500. However, you don’t pay for a furt...

Dividend scenario 7

Expenses paid by director personally Let’s say you record a company expenses of office rent at £2000. You decide to pay for this out of your personal funds and the money comes out of your personal bank account. Because Dividend amounts are calculated based on expenses recorded (not whether or ...

Dividend scenario 8

Unpaid Corporation Tax When you raise Invoices and record Expenses Crunch will automatically calculate your Net Profit. Crunch will then calculate the amount of Corporation Tax you owe and deduct this from your Net Profit. This may result in a Dividend that is lower than your bank balance becau...

Dividend scenario 9

Dividends recorded but not withdrawn from bank account Let’s say you have a Maximum Dividend Available of £3000. You record a Dividend of £3000 in Crunch but do not withdraw this money from your bank account. Your bank account will be £3000 higher than the Maximum Dividend Available. This is p...

Where is my P60 in my Crunch account?

Your P60 is the summary of your pay and the tax that's been deducted from it in the tax year. We've got a handy Knowledge article that explains what a P60 is and who needs one. To find your P60 in your Crunch account, simply head to Pay Yourself - PAYE Return. From here, you can view the submissi...

How do I record subcontractor expenses through my Crunch account?

Every now and then, you may find that you need additional skills to successfully fulfil the requirements of a project. This means you may need to bring in a third party to assist you. However, in doing so, you open yourself up to some potential tax and legal pitfalls surrounding the status of th...

Watch our pay yourself guide

This short video guide will show you all you need to know to start paying yourself salary and dividends in the Crunch app.

How much should I take as a salary?

Why take a salary? There are two main reasons to take a salary from your limited company: It’s counted as an expense and can therefore lower the amount of Corporation Tax due. If the salary is above the Lower Earnings Limit (view current tax rates), you accrue qualifying years towar...

Your payroll options - high salary vs. low salary

Being a Crunch client means you need not worry about complying with Real Time Information (RTI), whichever way you take a salary from your company. When it comes to taking salary with Crunch, as a Director you have a two options: Take salary of up to the National Insurance threshold or, Take...

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