Do I need to register for PAYE

Do I need to register for PAYE

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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)

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By accountant_payroll
27th Feb 2013 22:47

 

 

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

 

 

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Replying to 2017anuj:
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By psb
28th Feb 2013 09:51

Thank you it does. I just wanted to be sure.

I am not we are not intending to take any money out initailly, other than dividends so we can always register for PAYE later.

At least this will reduce the paperwork for the time being.

Thank you.

Pete

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Euan's picture
By Euan MacLennan
28th Feb 2013 10:10

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.

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Replying to taxinfo:
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By psb
28th Feb 2013 10:14

Initially I am not intending to take any benefit in kind.

 

I was planing on taking expenses for mileage, parking, buying goods for the business with personal money etc but as I understand it these are exempt from tax and therefore not included as a benefit so I should not need to register.

 

Pete

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