Hi
maybe this is a very basic question for here but anyway just wondering what are the best options for a director to take payment out of a new start up company in the early stages when income is low and inconsistent.
can a director take "drawings" on a continuous basis (ie weekly , monthly) or is it better to go with a formal small salary and what are the additional monies that would need to be paid / put aside for tax purposes if the salary option is used.
or is pretty rigid as to what you can do.
would appreciate any feedback
thanks
maybe this is a very basic question for here but anyway just wondering what are the best options for a director to take payment out of a new start up company in the early stages when income is low and inconsistent.
can a director take "drawings" on a continuous basis (ie weekly , monthly) or is it better to go with a formal small salary and what are the additional monies that would need to be paid / put aside for tax purposes if the salary option is used.
or is pretty rigid as to what you can do.
would appreciate any feedback
thanks