I am the director of a limited company in England and Wales and am the only worker and shareholder. I understand that it is advantageous for me to draw a salary from the company and also take some dividends out of the company's profits.
However, is PAYE a mandatory requirement to make salary payments to myself? Is it possible to instead make gross salary payments on an ad-hoc basis and handle all the tax/NI contributions in one go when I complete my director's tax return?
For what it's worth, my aim in all this is to reduce hassle by doing everything in one go instead of having to make monthly submissions to HMRC.