Max dividend calculator

[Olly]

It was my understanding that there is no legal requirement to pay yourself minimum hourly wage when you are director and employee of your Ltd.
Are you saying that it is and are you sure of this?
Thanks
Oliver

[slackbloke]

Hmmm, am I sure? Well I am as sure as that is what my accountant told me, however, that does not necessarily mean a lot :-)

It was my understanding that there is no legal requirement to pay yourself minimum hourly wage when you are director and employee of your Ltd.
Are you saying that it is and are you sure of this?
Thanks
Oliver

[Pickle2]

No need to pay yourself minimum wage slackbloke. If thats what your accountant told you was the reason for paying 11k salary, sack him and get another.

You are paying more tax than you are legally obliged to. Of course, it is the position of many a contractor that they are happy to do so for other reasons.

[Alan @ BroomeAffinity]

There is absolutely no need to pay minimum wage as the legislation does not apply to directors. its been covered on this forum about a zillion times.

There is a school of thought that payiong yourself a salary of C£12k pa will keep you under the HMRC radar but that is pure speculation, IMHO.

[blacjac]

Unless you have an employment contract in place, then minimum wage applies.