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  • NMW for Directors of Multiple Ltds

    My first Ltd company pays me a basic salary via PAYE. I believe I am registered with HMRC as an Employee via my company's PAYE registration and I am also an Office Holder. When I divide my basic salary by the number of hours I actually work, is the equivalent hourly rate supposed to meet NMW requirements? If not, for example because NMW does not apply to sole Directors, even if they are registered as Employed for PAYE, then now consider my second Ltd company: If I am complying with NMW requirements for my first Ltd, and if my second Ltd does not register with HMRC for PAYE and does not pay me any PAYE salary, then would it be OK for my second Ltd to pay me a Dividend from post tax profits? Lastly, in general, if a Sole Director of an Ltd does not have a formal Employment Contract nor a Director's Service Agreement, and therefore is not strictly speaking an Employee in Law ( even though they are registered via PAYE ), then is there any NMW requirement?
  • RE: Director without gaining any dividand, salary, pay

    I am not a Tax Advisor, but I do own multiple Ltd. My understanding is that all Ltd Company Directors must register for self assessment. If you think about it, it will be in your interests to report via self assessment that you have not received income from your company so that you formalise with HMRC that you owe no personal tax in relation to your role as office holder.