Company Director Start Up- Director paymnet

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

Hi,
It is pretty rigid as there are established guidelines.
1. If you use your personal car for work, and or work away from your main place of business you are entitled to reimbursement of expenses, tax free or within Civil Service rates for unreciepted allowances.
2. You can refund any directors loans.
3. Everything else is pretty much treated as salary.

If your going down the line of drawing a small salary, your probably going to be under your own tax free allowance and probably wont incur a huge paye bill anyway.