Paying yourself a Salary """UPDATE""

[Chatterbox Childcare]

I have been reading a lot on the IR website and you can indeed pay yourself money but not in a Salary but in Dividends. You need to be registered as self employed, in our case a sole trader, and then form a Limited Company (see link below). My understanding is that the dividends that you are paid are not tax deductable and NI not calaculated on (I am still investigating this). You will have to pay corporation tax but what figure this is on I am still not sure and digging more to find out.

Have a look and leave feed back if you can.

http://www.businesslink.gov.uk/bdotg...&r.t=RESOURCES

[Alibali]

Sounds confusing

[carlen222]

i am completely lost!!!!! my sister is an accountant with pwc maybe she could explain it to me lol xx

[FizzysFriends]

Dividends are not taxable/NIC's. You would need to register as a company with companies house though and keep full accounts as these have to be submitted and corp tax paid on them.