You are the Director, sole Shareholder and Employee of your Personal Service Company (PSC). As the Director you are responsible for your company’s records, accounts and performance. As the sole Shareholder you are entitled to receive distributions of the PSC's profits in the form of Dividends, and, as an Employee you will receive a Salary. The personal tax liability on both forms of compensation (Dividends and Salary) are different and determining the best combination depends on several factors including, but not limited to, whether you have other income and in which tax band your total income falls. myPSC will provide you with more information and assist you with selecting an appropriate Salary amount such that you benefit from the tax efficiencies of a PSC whilst still maintaining a record of making National Insurance contributions thereby retaining your entitlement to certain state benefits. For any Dividend Payments made, myPSC will also generate Dividend Certificates in line with best practices thereby ensuring a complete and accurate record is maintained.