Learn how to pay yourself from your company

As a director of a company, there are more ways you can pay yourself than if you are a Sole Trader. You can pay yourself a salary or dividend and contribute to your pension through your company. In this free video, we discuss how to extract money from your company and other accounting requirements that are involved with paying yourself.

What you’ll learn:

  • What are the different options for payment inside and outside of Ireland?

    There are generally two ways you can pay yourself: salary or dividends. If you're not a resident in Ireland, there may be a double taxation agreement with your country of residence or you may be able to apply for a PAYE exclusion order.

  • How to pay yourself a salary through payroll

    Taxes can differ between proprietary Directors vs. non-proprietary Directors. Paying yourself through payroll can have different requirements depending on personal circumstances.

  • How to plan your salary to minimise your tax liability

    You can plan your salary to avoid the higher income tax rate. You can also contribute to a pension scheme that can lower your tax liability.

  • How to claim tax credits

    Depending on personal circumstances, tax credits can help reduce the amount of income tax due.

  • What are your accounting responsibilities with each payment method

    Salaries and dividends paid out to directors need to be reported to Irish Revenue through specific forms and processes.

  • What's the best way for a business owner pay themselves

    If you need specialised advice, you can arrange a one-to-one consultation with one of our accountants.

This video is presented by...

Tom Francis
Tom Francis
Head of Accounting & Small Business
Tom is a Fellow Chartered Certified Accountant (FCCA) and Chartered Tax Advisor (CTA) and is Head of Accountant and Small Business at Accountant Online. Areas of expertise include Accounting, Compliance, Taxation relating to small and medium businesses and company directors. Tom leads a team of highly-skilled accounting professionals who serve high potential startups and SMEs. Accountant Online provides expert business advice and guidance and ensures business owners have peace of mind that their statutory requirements are taken care of. Tom has built great client relationships and has experience providing technical support in accounting, compliance, and taxation to business owners so they can grow and scale their businesses.

Frequently Asked Questions

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