Partnership just incorporated - which tax code for directors?
So the partnership has made profits from 6 apr to 1 nov when they incorporated. I now have to process payroll for the directors who want £2k net pm. What paye should I be using?
Also, is it safe/common place to put through £624 through payroll and take the balance of 1376 as a draw from the directors account against goodwill (if that makes sense!). We havent yet established goodwill.
Basically I'm asking for guidance on what is normal procedure to draw £2k in most tax efficient way at the early days of incorporation before it is possible to raise a dividend.
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