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I am a Director of a small company. My co-Director has been withholding my wages as he says we are in financial difficulty. I believe he is paying himself far more than me. Can I do anything about this? He is paying himself into a business account he has set up, not directly into his private bank account. He has reduced my wages in one instance to £250 which has caused me severe financial hardship.
No, not as far as I can remember.
As far as I can remember I was just told I was a Director - I'm afraid I didn't pay much attention to the reality of it. I haven't been involved in the aspects of the company that I should have been as a Board Director but I wouldn't claim that's because I haven't been asked - I haven't had time.
He pays into what he calls a 'management business' and invoices our company for some kind of management or consultancy fee each month.
I thought I was on £30,000 year salary to be paid monthly.
I received only part payments over approx. past 6 months as the company has had cashflow difficulties.
I gather the other Director has also held up his own payments too but has paid himself considerably more than me.
I have handed in my notice and am now worried I will not get all (or any) of the money owed to me.
The company is in serious difficulty, mainly because of bad decisions he has made. He will not listen to my advice or that of colleagues and I can no longer work there.
I think that's all I need.