Paying yourself from the business you own and run is more complex through a company than a partnership or sole trade. You can receive a dividend as shareholder and also a salary as director. A key attraction of forming a company is that there is less tax to pay on dividends. There are however possible drawbacks to this strategy. Here is our guide to the main factors you should consider when paying yourself from the company.

Starting your own business can be exciting, challenging, great fun and yet highly daunting, particularly if you do not fully understand the difficulties you could face. That's why it is vitally important that you consider all your options before taking the plunge. Our handy checklist is a good starting point.

The costs of setting up a business can be considerable and are easy to misjudge. So you should plan a new venture's cash requirements before spending money. Above all, you need to calculate your cash flow properly as even profitable businesses can fail simply due to lack of cash. Here is our 15-point guide to help you get started.