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Ben Jones
Ben Jones, UK Lawyer
Category: Employment Law
Satisfied Customers: 11480
Experience:  Qualified Employment Solicitor - Please start your question with 'For Ben Jones'
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Does a dividend low salary mix breach minimum wage regs

Customer Question

there,
Re: NMW and director resignation
I am a private limited company's sole shareholder and 1 of 2 directors. I have no written contract (as employee or otherwise) with my own company. I am a doctor offerring locum services to hospitals. My current assignment is full time 7.5 hours per working day months. Previously I was without a project months. I receive an NHS pension of £483 per month. I would like to receive a regular income totalling £10,000 a year (including my pension) to pay the mortgage and bills. Am I an office holder, and employee? Can I pay myself a regular salary below the minimum wage, as my employment could be irregular (receiving any of the remainder as dividend and/or leaving it in the company) or do I have to pay myself at least the minimum wage?
The second director (without a contract as employee or worker or renumeration) will resign after giving notice in the minutes of a board meeting. She was appointed at a previous board meeting. Is a resignation settlement waiver of claims or a termination payment necessary? If so how is it calculated? Should I pay a nominal fee, eg £10 in full satisfaction of services? Would this in board minutes be sufficient notice of resignation: "AB having been duly appointed as a director of the company, resigns with immediate effect, acknowledging she will receive £10 in full settlement services and she will pursue no claim against the company by reason of her loss of office or otherwise."?
Many thanks,
LB
Submitted: 2 years ago.
Category: Employment Law
Expert:  Nicola-mod replied 2 years ago.
,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question .
Thank you!
Nicola
Customer: replied 2 years ago.
Nicola,
Ideally I would be happy to wait until 8PM today. Would you let me know if I will be refunded should my question be cancelled?
Expert:  Nicola-mod replied 2 years ago.
,
Yes, we can refund on request. Please let me know if you would like me to do this.
Thank you,
Nicola
Customer: replied 2 years ago.
Yes please, if you could.