Once you’ve started your own limited company and people are paying for your products or services, you may want to start taking a salary.

This is a good idea for several reasons:

1. It’s the main way to legally move money from your business bank account to your personal bank account
2. It ensures you continue to pay National Insurance contributions, (essential if you expect a government pension later in life)
3. You pay tax to the government, thus preventing them from breaking down your door and demanding your money!
4. It gives you some money to live off

This article is designed to take a lot of the jargon away from paying yourself.

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Apologies for the lack of updates recently, I’ve been working on a few exciting projects. I should have another starting-up article out in the next week or so.

I’m looking forward to announcing one or two of my new projects too; they’re coming real soon.