If you register for VAT in order to reclaim VAT on purchases, then you have to charge VAT on all supplies and that includes the directors.
As niknak says, employ a good accountant. There was recently a rather heated discussion involving a ppruner and a group share run as a limited company. Because of the way it had been set up, the directors were also being clobbered for Benefits in Kind on their flying hours.
Get an accountant's advice BEFORE you set up the company as the structure is all important.
Cheers
Whirls