who can be my Secretary ?

[anorak]

Daughter as Company Secretary

At present my wife is Company Secretary, has a 49% shareholding and receives pro rata dividends accordingly. As she is now working full time, the tax benefits that we used to enjoy have been eroded to some extent.

Could I make my daughter, who is in full time education, Company Secretary? As she has no income the reduction in tax would be significant. Is there a minimum age requirement?

[ASB]

At present my wife is Company Secretary, has a 49% shareholding and receives pro rata dividends accordingly. As she is now working full time, the tax benefits that we used to enjoy have been eroded to some extent.

Could I make my daughter, who is in full time education, Company Secretary? As she has no income the reduction in tax would be significant. Is there a minimum age requirement?

Why do you think making your daughter co sec might cause a reduction in tax ?

Share ownership gives the rights to potential division.

Companys officers (e.g. so sec) have certain responsibilites. The two are not directly linked.

If your daughter is a minor then there are a whole set of different rules for any income generated from asessts in the parental gift.

[andy]

At present my wife is Company Secretary, has a 49% shareholding and receives pro rata dividends accordingly. As she is now working full time, the tax benefits that we used to enjoy have been eroded to some extent.

Could I make my daughter, who is in full time education, Company Secretary? As she has no income the reduction in tax would be significant. Is there a minimum age requirement?

while you enjoy the dividends dont forget there is something called s660 which can make things uncomfortable

[anorak]

Why do you think making your daughter co sec might cause a reduction in tax ?

Because my wife is now in the 32.5% tax band, whereas my daughter, with no other income, wouldn't be. And yes, I am aware of the spectre of S660 on the horizon.

[ASB]

Because my wife is now in the 32.5% tax band, whereas my daughter, with no other income, wouldn't be. And yes, I am aware of the spectre of S660 on the horizon.

The two points I so obviously failed to make are:-

- appointing you daughter company secretary does not of itself give her any income (other than any salary the post carries). It's the shares she needs.

- In terms of minor children you will have:-
a) A hard job of convincing HMCR thet it is not your salary if she is paid a salary
b) Under S660 (a different part than that which is usually talked about here) you WILL have to account for the income on your WIFES tax return anyway (assuming the shares are transferred from your wife to you daugheter).

[AZZIK]

Can a director of another company be your company secetary?

[ASB]

Can a director of another company be your company secetary?

Yes Its all on CH website

[kellycell]

Hi all, I am in the process of setting up my own company, but have the same question, not sure who can be my secretary..

1) Can I put a family member that is abroad to be the secretary?
or
2) I have seen that accountants take the role of the secretary, can SJD be the secretary for me? (I am thinking of picking them for the whole company set up and to act as my accountant, because they seem to be well known and good)

[Bluebird]

It can be anybody - but better to get someone you trust and are unlikely to "breakup" with in the foreseeable future.

By the way you can set you own company up for a lot cheaper than SJD - see http://www.uk-plc.net/

[2uk]

It can be anybody - but better to get someone you trust and are unlikely to "breakup" with in the foreseeable future.

By the way you can set you own company up for a lot cheaper than SJD - see http://www.uk-plc.net/

Where the heck did you dig that question from.