Limited company payroll

There is currently no payroll for limited companies.

For director only companies, payroll is very important, along with the split between dividend and salary for that period.

  1. Allow payroll and do the RTI returns. This removes the need for the end user to use other software of an accountant.

  2. Allow a payment method of dividends, along with automatically created dividend documents. Will need to know the amount of shares the company has and per shareholder (if multiple). Will ensure that all company documentation is up to date and correct.

  3. Have a method that allows the user to select the ‘recommended’ distribution on tax, up to the max that the company can handle with the available cash at hand. Show the impact to personal and company tax with the change to the distribution. Also need to factor in pension and minimum thresholds for mat pay & state pension. I guess you will need to get legal involved as it could be seen as advice. This will get rid of the need to understand how the split works between dividends and payroll.

Additional, if you can tag the company as within IR35, then change the above thresholds to move more payments to salary instead of dividends.

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This is a great idea. Maybe not something that @coconut would have at the front of their list, but something I’d hope could be a future roadmap addition.

Add an Integration with Toggl and Hubstaff to pay contractors. This process is very manual currently.

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The time tracking is already covered in the new investment pitch as a future idea.

HubStaff is a good idea though!

For payroll, you could integrate with something like https://www.payrun.io/. There are plenty of Payroll APIs out there as an interim to coconut building their own.

Pento could be another good one? https://www.pento.io/pricing