Originally posted by northernladuk
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Paying out Div`s- Timings
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Originally posted by JamJarST View PostThat is what I was asking too.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by northernladuk View PostBearing in mind the OP's questions in other threads about what is a director and what is a shareholder I seriously think the OP is just running wild with this without truly understanding what he is doing and the implications of it going wrong.Comment
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Originally posted by northernladuk View PostWhy do you have 4 shareholders? Are you sure it all looks above board should you be investigated or have you just dished them out ot your family to keep your tax liabilities to a minimum?
Though trying to pay them at different times when you all own the same class of share is suspect."You’re just a bad memory who doesn’t know when to go away" JRComment
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Originally posted by SueEllen View PostThere isn't a rule on shareholders is there? So if you wish to have all your family as shareholders in your business you can particularly if they have given you money for the business.
Though trying to pay them at different times when you all own the same class of share is suspect.
http://forums.contractoruk.com/accou...-year-end.html
Sorry to jump in . Is a director loan per person? I have 4 x shareholders - of which one is a director and 1 x is the company sec- the other two shareholder do not hold any position. Can my company have four directors loan at £6k each ?I know but I thought the work Director may be extended to shareholder in some circumstances. Does a Company Sec. count as a director with re to Loans?Last edited by northernladuk; 10 August 2011, 10:18.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by northernladuk View PostAbsolutely right there isn't but when the OP posts something like the comments in the thread below you wonder how badly he is running things. If he can't work out what is a director and what is a shareholder it signals to me that the reasons for giving this sharesholders may, yes be legal, but fail on common sense issues so exposing him should he be investigated.
However in his case I would:
1. Have a read of business link
2. Get a good accountant - I know other family businesses with children who are 16+ where the parents use their child's tax allowance. However the child actually has to do some work for the business, which they actually do. (I have had to listen to some of the teenagers moaning.)"You’re just a bad memory who doesn’t know when to go away" JRComment
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