Limited company question

[Deleted User]

I attended a HMRC class on becoming a director last week. Very informative, and free. http://www.hmrc.gov.uk/bst/

They also seem to be very happy to take specific questions when the class has officially finished, too.

In the meantime, you should download a tool called Basic PAYE Tools. Using this, you need to register as an employer, and also as an employee, being careful to state that you're a director.

danthemoneysavingman

Suggest you save yourself a lot of potential problems and pay an accountant!

zygurat789

All the above calculations assumed you have no benefits in kind from the company, such as a car. As you are also self employed you probably have the car in this income source, but be wary.
You can always declare a dividend to gain the tax benefit but there is no need to actually withdraw the money from the company's bank account just leave it there as a loan, withdrawable whenever tax free.