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09 October 2000
If I was to compute my 'deemed payment' under IR35 on 31 March, hold a board meeting and vote myself the amount equal to the deemed payment as a salary bonus, could I avoid having to pay over the tax and National Insurance contributions on 19 April? I would then apply the tax and National Insurance contributions when I drew the bonus out of the company over the next nine months, following normal pay-as-you-earn rules.
Apart from the obvious cash flow advantages, it would mean I would not have to mess around with dividends anymore, and I could also ensure that I got corporation tax relief if I was one of those who would miss out by having a 31 March year-end.
(Query T15,701) Lucky.
