Hi there, I set up a Ltd company last year but it hasn't been making the money I expected it to and I am now running it as just a part-time venture while I work full-time elsewhere - I am the only person 'employed' by the Company but I haven't drawn a salary or anything from the account as yet.
As it is now coming up to the end of the first year's trading I am concerned about NI contributions. I spoke to the IR and I don't need to make any personal contributions but the booklet I was sent outlines two seperate sets of contributions: LTD Company AND Director.
What is the difference between the two and even though as a Director I don't need to contribute, do I need to make payments on behalf of the company itself? If so, how much?
Any help would be appreciated - just when I thought I had this cracked!
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