urgent.....can i be an employee of my own company...

my_friend · Post by **my_friend** » Thu May 30, 2013 2:57 am

hello..

after reading a few posts i am a bit confused about how the director being paid...

i have registered a company and i am a director of my company...
i have setup myself on a payroll of my company and pay myself as a payee from my company....now this is like being an employee of my own company...

is this allowed?...coz i have seen post which says that u cannot be an employee on T1 visa to a company...but being a director can i be an employee of my own company....

please do share ur views...thanks

G M · Post by **G M** » Thu May 30, 2013 3:55 am

please take money out as dividends and not salary under t1 entrepreneur visa....

my_friend · Post by **my_friend** » Thu May 30, 2013 4:59 am

G M wrote:please take money out as dividends and not salary under t1 entrepreneur visa....

and how do i pay national insurance then...can i be self employed and bill my own company...

my_friend · Post by **my_friend** » Thu May 30, 2013 5:07 am

G M wrote:please take money out as dividends and not salary under t1 entrepreneur visa....

i have been taking out money as salary since 2 months...what should i do now...now i am confused and worried...i thought i could be on payroll being a director of my own company...

how do i pay NI contributions...coz i think u dont pay NI contributions on dividends...

maverick_76 · Post by **maverick_76** » Thu May 30, 2013 5:37 am

You can be on payroll of your company.
You can pay yourself salary.
However the investment of 200K will not include any remuneration which you paid to yourself. Basically you can not show salary to yourself as part of 200K business investment.

KickAss · Post by **KickAss** » Thu May 30, 2013 8:32 am

my_friend wrote:hello..

after reading a few posts i am a bit confused about how the director being paid...

i have registered a company and i am a director of my company...
i have setup myself on a payroll of my company and pay myself as a payee from my company....now this is like being an employee of my own company...

is this allowed?...coz i have seen post which says that u cannot be an employee on T1 visa to a company...but being a director can i be an employee of my own company....

please do share ur views...thanks

You are the Director of your company and you can be employee as well. In fact, if you are T1E PSW applicant it makes more sense as the core services provided must be nfqL4 or above and as an employee you will be providing those services through your company.

Make sure you pay all your NI and tax for you as an employee
+
Your corp tax and VAT etc as a director.

As mentioned already, you cannot count this money as your investment in company.

rahulsingh1 · Post by **rahulsingh1** » Thu May 30, 2013 10:31 am

'work restricted to own business'

this means that you can only work for your own business. or in simple words, be employed by your own business.

my_friend wrote:hello..

after reading a few posts i am a bit confused about how the director being paid...

i have registered a company and i am a director of my company...
i have setup myself on a payroll of my company and pay myself as a payee from my company....now this is like being an employee of my own company...

is this allowed?...coz i have seen post which says that u cannot be an employee on T1 visa to a company...but being a director can i be an employee of my own company....

please do share ur views...thanks

my_friend · Post by **my_friend** » Thu May 30, 2013 1:14 pm

thank u all for ur reply...now i am a bit relieved....thanks for clarifying my confusion...

bless u all

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urgent.....can i be an employee of my own company...

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