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Paye

  • Thread starter Thread starter matp36
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matp36

Hi,
I have just started a new limited company back in march of this year.
To date I have only earnt around £7000 and have not paid myself anything yet. Also I don't envisage earning any more before my tax year comes round.
Is it possible to pay myself some dividends now and then pay myself a small wage some time after Christmas? and if so what is the best way to pay myself? would I need to go through registering as an employer and PAYE etc?
 
To pay yourself you need to register with HMRC, their website has the details.

To pay yourself a dividend you need to be a shareholder and have made a profit.

What the company/you have earnt is not profit, it is turnover.

But what you are saying is basically what some director/shareholders do. pay them selves a salary upto the tax allowance and possibly just over to cover NI, if needed.

Then the rest is paid in dividends.
 
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