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carlosm1 Offline
Business Startup
 
Posts: 15
Join Date: Jan 2006
Paying myself with PAYE - 17-01-2006, 01:47 AM

Hello, I'm gonna be setting up a private limited company and have a couple of issues about paying myself.
If say the business does well for a few months and i decide to pay myself, can i pay myself with varying amounts depending on the profits, month to month? Would appreciate your advice, peeps.
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barcyn Offline
Business Planning
 
Posts: 7
Join Date: Aug 2005
Re: Paying myself with PAYE - 17-01-2006, 10:19 AM

You can pay yourself as much or as little as you want, and when you want. You don't even have to make a profit! It's sometimes more tax-efficient to pay yourself dividends rather than salary (PAYE). Talk to your accountant.
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carlosm1 Offline
Business Startup
 
Posts: 15
Join Date: Jan 2006
Re: Paying myself with PAYE - 17-01-2006, 11:45 AM

cheers, barcyn, much appreciated. Thats something else off the list! thankyou muchly.
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