Pay Yourself

Dividend scenario 5

Deposits by the director: Let’s say a Director deposits £1,000 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 £1,000 because of the expenses that have been recorded, however, the bank balan...

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 the purchase of a filing cabinet for the office at £500, however, you don’t pay for ...

Dividend scenario 7

Expenses paid by the director personally: Let’s say you record company expenses of office rent at £2,000. You decide to pay for this out of your personal funds and the money comes out of your personal bank account, but because Dividend amounts are calculated based on expenses recorded (not whether...

Dividend scenario 8

Unpaid Corporation Tax: When you raise invoices and record expenses, Crunch will automatically calculate your net profit. Your Crunch account 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 ...

Dividend scenario 9

Dividends recorded, but not withdrawn from bank account: Let’s say you have a "Maximum Dividend Available" of £3,000. You record a Dividend of £3,000 in Crunch, but do not withdraw this money from your bank account. Your bank account will be £3,000 higher than the "Maximum Dividend Available". T...

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 this 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 Returns. From here, you can view the ...

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 videos for setting up your monthly Salary & paying yours...

These videos will cover all you need to know about how to pay yourself in Crunch.

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...

Watch our directors loan account guide

A directors loan account keeps track of any money owed to or from the director, from the company. This video will show you how to manage it and some helpful tips for using your Crunch account.

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