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Small Business Accounting
As a limited company director, you can pay yourself through:
1. Taking a salary
As the director of a limited company, you're also considered an employee. As such, any salary you draw will be paid through the PAYE scheme-similar to how other employees of the company will receive their pay.
You'll run a payroll, report to HMRC and receive your salary (after taxes have been deducted at source).
2. Dividends
A dividend is a payment of profit that a limited company distributes to its shareholders.
While dividends can be drawn at any frequency across the year-as long as there are sufficient distributable profits-payments are typically made on a monthly or quarterly basis.
Download our Ultimate Expenses Guide
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Download our Ultimate Expenses Guide
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