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Posted Wed, 29 May 2024 00:50:16 GMT by ltdqueries
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.
Posted Fri, 31 May 2024 11:05:28 GMT by HMRC Admin 13


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

Posted Sat, 01 Jun 2024 02:08:00 GMT by ltdqueries
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?
Posted Wed, 05 Jun 2024 10:12:08 GMT by HMRC Admin 21
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.

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