When I formed my company (being new to all this), I set myself the following share allocation:-
Myself (500 shares) - Director
My girlfriend (500 shares) - Company secretary
Now, both myself and my girlfriend contract, although she only does 16 hours per week..
Am I right in in thinking that I pay myself a 'directors fee' (£100) per week, my girlfriend minimum wage, and that the rest would be a dividend, but split 50/50 between us (it all ends up back in our joint account anyway)..
But on this basis my share vouchers would read (if say I was to announce £1000 of dividend payment in a particular week):-
£1 per share... thus giving £1000 over the 1000 shares allocated?
In hindsight I should have allocated us both 1 share each. Also does this mean technically I should be investing £1000 into the company because I valued my shares at £1 each when I formed (I think! :S)..
Myself (500 shares) - Director
My girlfriend (500 shares) - Company secretary
Now, both myself and my girlfriend contract, although she only does 16 hours per week..
Am I right in in thinking that I pay myself a 'directors fee' (£100) per week, my girlfriend minimum wage, and that the rest would be a dividend, but split 50/50 between us (it all ends up back in our joint account anyway)..
But on this basis my share vouchers would read (if say I was to announce £1000 of dividend payment in a particular week):-
£1 per share... thus giving £1000 over the 1000 shares allocated?
In hindsight I should have allocated us both 1 share each. Also does this mean technically I should be investing £1000 into the company because I valued my shares at £1 each when I formed (I think! :S)..
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