Limited Company Question again: Employed or Self Employed?

This has been discussed before, but I think there are no clear conclusions. So, I am re-opening the topic.

If you are working through your own limited company, and paying yourself salary and dividends, should you declare as "Self Employed" or "Employed".

(A) "Employed" option:

Many have argued that "Employed" is the correct answer.
If you declare yourself as "Employed", you need to submit letter from current employer and the P60s for all the 4/5 years. Obviously you are your own employer, and the "Employment letter" will be the one you issue to yourself. Although the accountant can endorse this, not sure how this will work. If you are drawing salary and dividends, and divident part is significant, the P60 salary figures may not be very attractive. You need to include dividend vouchers (again issued by you to yourself), and bank statements.

Documents for economic activity for this option may include:

(1) P60s
(2) Dividend Vouchers
(3) Self Assessment Tax statements from HMRC
(4) Bank Statements


(B) "Self Employed" option:

You run your own limited company (being 100% shareholder), so it will not be incorrect to declare yourself as "Self Employed". With Self employed option, you need to show how your business has progressed. I think "Business" means your limited company.

Documents for economic activity for this option may include:

(1) Company incorporation document.
(2) Letter from accountant giving Profit loss, and the corporation tax paid for each accounting year.
(3) Contract documents.
(4) Correspondence from HMRC regarding corporation tax payments.
(5) Business Bank statements proving the payments from clients, and the corporation tax payments to HMRC.

Any thoughts on which option is better and more appropriate?

If you have a Limited Company you are definately considered 'employed'.