If you're the director of a limited company, you're also considered an employee. As such, you may pay yourself a salary through the PAYE scheme-which is similar to how other employees of the company receive their pay.
You'll need to register as an employer with HMRC (even if you're only employing yourself as the sole director of a limited company), set up and run payroll, report to HMRC and abide by HMRC's record keeping requirements.
<p>If you're the director of a <a href="https://goforma.com/limited-company" target="_blank">limited company</a>, you're also considered an employee. As such, you may pay yourself a salary through the PAYE scheme-which is similar to how other employees of the company receive their pay.<br></p><p>You'll need to register as an employer with HMRC (even if you're only employing yourself as the sole director of a limited company), <a href="https://www.gov.uk/paye-for-employers/setting-up-payroll" target="_blank">set up and run payroll</a>, report to HMRC and abide by HMRC's record keeping requirements.</p>
Our small business accounting guide walks through absolutely everything you need to know if you're considering starting a limited company. From different taxes, limited company advantages/ disadvantages, how to pay yourself, and what your key filing requirements are.
- When to register a Ltd company
- When to register for VAT
- How to take money out of your company
- Dividend tax rates
- Limited company expenses & corporation tax
- Annual accounts and deadlines
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Get a free accounting consultation to discuss your company accounting needs
Book a free 20 minute call with an accountant to talk though starting, registering or switching your company.
- Book a time online instantly
- Registering for VAT
- Self assessment
- Sole trader vs limited company
- Dividends and personal tax
- Registering your company
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