• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

First payments to my LTD Company?

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    #11
    Originally posted by Dr. Nick Riviera
    Your salary is agreed between your company and yourself. It must be in excess of the legal minimum wage.
    There is no legal requirement for a director of a limited company to pay themselves the minimum wage.

    Comment


      #12
      If you need money and dont know what to take out, just draw your expenses (assumming that you know what to expense and you have added them all up). This should cover your bills?

      Also as soon as you can, move all your regular business expenses (like mobile phone) to take money direct from your business bank account (change the Direct Debits). Then you dont need to keep paying yourself back.

      I am just starting out (again); not sure what to pay myself but one of the punters here might give you an idea what to pay yourself for National Minimum Wage (which would be a good place to start until you decide how much to pay yourself).

      Comment

      Working...
      X