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Tax whilst employed fulltime and a director of a PSP private company

Posted 21 February 2015 under Tax Questions

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Hi Tim thanks for the awesome work. How does being a director of a private company affect personal income taxes( noting that this work is occasional in addition to being employed full time during the week) if the service offered is of a personal service provider nature and a. The director does not take fees or income From the company. B the director earns fees/income from the company is provide the personal service himself. Thanks

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TaxTimTaxTim says:
22 February 2015 at 17:33

The additional income in the name of the director will be taxed in his hands with PAYE being deducted as normal, if the company is paying him out. However due to the extra income earned he most likely will have to pay taxes in at the end of the year due to each company only deducting PAYE as if no other income were earned.


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