Personnel IVA- can I still contract?

[martin481]

I have an IVA but I am going contracting through my LTD company. I have already set up my LTD company with my girlfriend as the secretary and myself as the director. The company secretary will open the business bank account to get us started however moving forward should I appoint a new director and resign to become a straight employee of the company. If I appoint a new director, or perhaps directors, then they could draw dividends and give them to me, over time of course.

I'd be grateful for any advice,

[Sockpuppet]

Directors don't draw dividends. Shareholders do. Ok, the directors declare the dividends but they are paid to the shareholders.

Speak to an accountant.

[VectraMan]

If you're thinking the co-sec will be able to open a bank account without mentioning you, think again. They'll want to know about directors and major shareholders.