Hi There, I have been running a limited co for three years with myself as sole director and employee with 1 Ordinary Class share. My partner has now started contracting as well (non married, different surnames) and is contracting under the same limited company. I want to include them as and employee and a shareholder so that they can also take a salary and dividends. The idea (from my accountant) seems to be that his shares would be a different class to the ones currently in issue (my 1 ordinary) so that we could take different levels of dividends based on our individual requirements. I am just submitting my Companies House Annual Web Filing, and it seems to offer me the chance to add share classes. So my questions are:
Would this be a good way to do the company restructure (rather than paying my accountant the £250 plus VAT he wants ....)?
Is there a better way or time to do this?
What 2 different classes of shares should I use?
Do I leave me as "Ordinary" and add them as one of the other options (Preference, Deferred Ordinary, Deferred, Redeemable, Redeemable Preference, A Ordinary, B Ordinary, C Ordinary) or do I need to change myself to some sort of superior class and put them as Ordinary (I wish to remain in overall control of the company and majority shareholder)? What about number of shares?
Any info or advice on how to structure the company gratefully received.
Would this be a good way to do the company restructure (rather than paying my accountant the £250 plus VAT he wants ....)?
Is there a better way or time to do this?
What 2 different classes of shares should I use?
Do I leave me as "Ordinary" and add them as one of the other options (Preference, Deferred Ordinary, Deferred, Redeemable, Redeemable Preference, A Ordinary, B Ordinary, C Ordinary) or do I need to change myself to some sort of superior class and put them as Ordinary (I wish to remain in overall control of the company and majority shareholder)? What about number of shares?
Any info or advice on how to structure the company gratefully received.
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