When I had my Limited company, I was paid a small salary through PAYE but took most of the profits via Dividends for tax saving purposes(no NI on Divs)the accountant always advised on how much, so I can't say if it is a requirement to have a salary as well.
I work for two clients who are directors of their Limited Company, one pays herself a salary through the PAYE scheme and doesn't take dividends (at least I don't think so) and the other pays himself the minimum through PAYE and takes dividends at the end of the year. I guess it is personal preference?
You certainly want to pay yourself a salary; assuming you have no other sources of income, it uses your personal allowance, receives tax relief within the company and as long as it's over the Lower earnings Limit, will count towards your qualifying years for the state pension.
NB don't have a contract; the NMW doesn't count for directors unless they have a contract of employment!
You are right about dividends - you can only declare from post tax profits.
Finally, if you are LENDING money from the company, watch out for overdrawn loan accounts, as they have tax consequences if outstanding at the end of the year.
If you haven't already done so, I would suggest you talk to an accountant so that you can plan your remuneration; the points above give you a flavour!
