Reply to: who can be my Secretary ?

[kellycell]

Does the secretary have to be present for anything? Thinking of putting my disabled granny, but will she have to come out the house at all for anything?

[dude69]

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?

Um, it would then be her money. She can't just gift it back.

In addition, all income above £100/year earned by a minor child is taxed at the parent's rate, so there is no saving there.

Basically, saving tax using your children is not possible.

[Darren@UptonAccountants]

Annual Accounts

Yep, that's correct....the directors can sign off the company accounts, no need for the co sec.

In theory, a co sec can sign off the directors report but not the balance. A director can sign both.

The director or co sec can also sign the annual return.

[r0bly0ns]

I thought they had to sign off the accounts too?

We've only had one set of final accounts and these were signed by both directors, the account said the cosec didn;t need to.

[TheFaQQer]

Also, what about the pre-budget report and income shifting? Won't this effect paying dividends to shareholders?

And, currently my misses is company secretary, but could I use my mum who is retired to take advantage of tax on dividend payments?

Paying dividends is nothing to do with the company secretary, unless they are also a shareholder. Whoever is a shareholder is entitled to a share of the dividend in proportion to their holding.

[ContractIn]

I thought they had to sign off the accounts too?

Also, what about the pre-budget report and income shifting? Won't this effect paying dividends to shareholders?

And, currently my misses is company secretary, but could I use my mum who is retired to take advantage of tax on dividend payments?

[TheFaQQer]

All our secretary has done so far is sign the forms for opening the company bank account.

Legally it is the secratary's duty to make sure the accounts are filed with companies house and things like that, but in practice this is all handled by our accountant.

I thought they had to sign off the accounts too?

[r0bly0ns]

All our secretary has done so far is sign the forms for opening the company bank account.

Legally it is the secratary's duty to make sure the accounts are filed with companies house and things like that, but in practice this is all handled by our accountant.

[kellycell]

What does the secretary have to do? Physically sign papers? Is there a lot of work involved in that?

[r0bly0ns]

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.

Making someone a company secratery and giving somone shares are 2 completely different things.

My wife is our company secratery but holds no shares, so the company pays her nowt.

[Bluebird]

Where the heck did you dig that question from.

The OP?

[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.

[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/

[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)

[ASB]

Can a director of another company be your company secetary?

Yes Its all on CH website