You pay a company director without deducting tax under PAYE (Pay As You Earn) – and HMRC recovers the unpaid tax from you.
The tax that you’ve paid on the director’s behalf counts as a benefit.
Unless the criteria outlined in the ‘Exceptions’ section apply, you must:
The value to use is the amount of tax recovered from you by HMRC, minus any amount made good to you by the director.
The rules outlined above do not apply if your director doesn’t have a material interest in your company and either of the following applies:
In these cases, you have:
In broad terms, a director has a material interest in a company if they (alone or together with associates) own or can control more than five per cent of its ordinary share capital. For full details, see the ‘Technical guidance’ section below.
EIM21790: PAYE tax not deducted from director's earnings
NIM02370: Class 1 NICs - earnings of employees and office holders