Thanks for this. I do not take a salary anymore and am paid via a quarterly dividend
I was an employee until two years ago. when I changed to dividend. I do take a minimum salary for tax reasons. So I guess I am technically employed. Would that be right?
I did reply to your last email but looking at the thread it does not look like it got to you. I was away for the weekend so only picking up emails now. Alex we have already changed the articles and have A & B shares in place. This is how I am paid for my employment. Does he still have the option to pay himself when he wants to without my approval?
This has been very helpful. The shares do not have the same rights to dividend. The reason we created A & B shares was for me to be paid quarterly as a dividend instead of taking a salary. He now want to join the business and take a significant salary as a dividend. The challenge I have is that the business will not be able to support this additional expense and he is placing a massive burden on the company. All very complicated I appreciate.
Alex. He has A only and I have B only. I have explained the financial concerns. This is why I am asking if he can authorise his own dividend and block payments to me.
That news is comforting. Thank you for this. I believe you have given me the advise I need. Thanks