company director can take salary from business?

[s_ahmad]

HI guys,i have a question,company director work in company as a employee,so the way he can take salary from this business,or simply as a company director we can take salary from the business ?

[seasky]

HI guys,i have a question,company director work in company as a employee,so the way he can take salary from this business,or simply as a company director we can take salary from the business ?

A director can certainly take a salary on Paye. Most payroll SW will list him as director. Don't forget to update your self assessment even though you are on PAYE.

in t1e you shouldn't take salary that is dependent on your investment so if you invest £200K and want to take salary take it from profit or invest a larger amount (I do not know the source of this, it seems common wisdom on this board only)

[schahzeb]

sorry to jump in, but does it mean we have to submit self assessments alongside other documents for visa extension?

[s_ahmad]

SALES £31605
LESS COST OF SALES 4406
GROSS PROFIT 27199

EXPENSES

WAGES 3380
DIRECTORS WAGE 11276
RENT,RATES AND INSURENCE 7264
TELEPHONE 295
HAT AND LIGHTS 732
MOTOR EXP 1250
PROFESSIONAL 750
REPAIRS AND RENEWALS 126
POSTAGE,PACKGING AND STATIONARY 184
DEPRECIATION 1260

TOTAL 26507

NET PROFIT 692

TRADING AND PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED
THAT WAY M I RIGHT TO TAKE SALARY?

[Mak9878]

Hi there,

I had same problem, have a good read to this link.. you will come to solution. So at the end I have managed to add investments funds which i have taken as director salary.

But I have heard from another source that if your business bank statement balance is less than total director salary amount taken over 3 years, then you have to top up. If bank statement balance above than director salary taken over 3 yrs which represent the money has been spent and you were taking salary from sales.. But its not reliable source
Have a good read below:
uk-tier-1-entrepreneur-visas/urgent-hel ... 25524.html