Hello,
I have done some research but seem to get getting conflicting information.
I am a sole director/shareholder. I am just starting up and I will continue in my employment with another company while I build up the business.
I intend to take money out via dividends as I already get paid above the threshold.
Do I need to register for PAYE even though I wont be paying myself anything other than dividends. HRMC say I do because I have another job.
Is this the same for my partner, she is the company sec and works elsewhere as well?
Thank you
Pete
Replies (4)
Please login or register to join the discussion.
Hello Pete
You don't need to register your company for PAYE scheme as long as you don't employee anybody. And also you are not taking any sort of salary and if your are paying your partner as a sec and than you should register for PAYE.
Taking salary from a company showing employees will reduce your Tax bill as long as they get paid within personal allowances.
Hope this will help
Benefits?
I agree that basically, you do not need a PAYE scheme if no-one is being paid any salary, but you would need one if the company is paying for any benefits-in-kind for either of you - such as medical insurance.