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Question about single director company with no wage and no dividends either

  • 2 posts
  • # 113406

Hi,

While studying ICB, I am a single director of my LTD, there are no employees, no other directors.

I have a proper full-time job, this LTD is just a "hobby" for me.

I already did my first years tax returns with no issues, just doing the second one, but the question came to my mind is this legal if I don't have any salary paid and not taking any dividends either, but in the meantime I do some work for the company.

I have a little profit, paid corporation tax as necessary, but want to keep the profits it in the company and dont plane to take dividends or salary for a while.

Is it OK like this or do I have to take salary or dividens as a director?

Thanks!

  • Associate
  • Practice Licence
  • 77 posts
  • # 113420

Hi,

There is no legal requirement to pay yourself salary or a dividend as far as I am aware.

Dave

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