This is my first post so apologies if this is been addresses before - I've tried looking at the dividend link to right of this page (Limited Company Dividends Guide :: Contractor UK) and have tried searching the forums here to no avail.
Go easy on me as I'm not fully conversant on what I need to be looking out for or what questions I need to be asking.
I have a private limited company that I set up in December 2015, and have yet to complete my first years accounts and will likely seek an accountant in early December to review my accounts. As such would like to explore adding my wife as a shareholder to the company and whether it is beneficial to do so.
I've read about the change in dividend legislation, and understand that contractors can now avail of a £5000 tax free dividend. I wondered if it was possible to add my wife to my company as a director so that the company can pay her an additional £5000 in dividends - she is in full time employment and receives no dividends currently.
I've found the following article and it seems to suggest that all I need to do is have my wife added as a shareholder. But it the article reads that she would have to be a contractor.
Any advice would be greatly appreciated.