Does PAYE comes off profits?

Accounting
1

Hi,

I’m currious to know rather the tax paid to hmrc such as PAYE i pay for my employee, (these are my employee taxes i pay on their behalf). these taxes should come off my own profits??

Seems like quick file still keeps this amount as profits for me… and it does not show on profits and loss report.

I have entered the payment via bank account (adding new transaction) then i have tagged it as payment to hmrc/paye to employee.

Please help, don’t want to pay taxes on taxes… lol

thanks

2

You need to enter the Payroll/PAYE journals, click here to see the ‘How To’ guide on the forum for further help.

3

thanks, I haven’t fully understood it all but here is what i have done:

My 2210 paye account journal was showing 140 debit i have now input 140 credit
these 140 credit now appears as 140 debit on my gross wages account journal.

Hope this is what was needed