PAYE REGISTRATION

Hi, As the sole owner of a LTD company, I am both the employer and the employee. I understand that if I pay myself more than £123 per week as a director/employee, I need to register for PAYE. 1. If I pay myself less than £122 per week, do I need to register for PAYE? (I do not have any other job). 2. Since I've just started my business and am unsure about my earnings, can I pay myself a lump sum after 6 months, equivalent to the total salary I would have received weekly/monthly? Thank you.

Hi

You would need to register for a PAYE scheme if you are paid above the Lower Earnings Limit and/or provide yourself with taxable benefits.
Further information is available at Register as an employer  
You would just need to report the earnings on or before the date of payment.
So if you receive the payments monthly you would report them at that point of time.

Thank you

So that means, If I'm not paying myself above lower earnings i.e. £122 a week and not giving myself taxable benefits then I do not need to register for PAYE and no need to report the earnings on or before the date of payment. Right?

Hi ltdqueries,
If employees are paid below the lower earnings limit, arent being providied with benefits in kind, do not have other paye employments/pensions and are not receiving taxable benefits such as state pensions then you would not need to register a PAYE scheme or submit Real Time Information.
Thank you.