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How should I take wages from my business?

Sole Trader

As a sole trader or partnership business you take money out in the form of drawings.  These drawings are not taxable and in most cases are not limited to the amount you withdraw.  Drawings can be taken any time you wish.

You would not normally class them as wages nor pay any PAYE tax on these drawings.

Limited Company

For details of how to pay yourself, see here

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