A company has two directors who are both to be paid no more than £7696 a year. Dividends will be paid if there are profits and there will be no other employees. Does the company need to register a PAYE scheme (and deal with RTI etc etc)? What about expenses reimbursed? Would they make a difference? What about auto-enrolment? Will it need to establish a pension scheme?
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Yes
As the directors will be paid more than £5,668, the NI Lower Earnings Limit, the company will require a PAYE scheme and will have to file RTI reports in order to obtain a qualifying year for the state pension for the directors.