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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3497
Experience:  Solicitors 2 years plus PQE
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My son(70*) and I (30%) have a small Ltd company. Can we

Customer Question

My son(70*) and I (30%) have a small Ltd company.
Can we agree a resolution to not pay me dividends as it will allow my son to take larger dividends (I do not want dividend).
Submitted: 1 month ago.
Category: Law
Customer: replied 1 month ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Alex J. replied 1 month ago.

Hi Thank you for your question and welcome. My name is ***** ***** I will assist you. This is possible but in order to declare dividends for one share and not another you need to have two classes of share. The shares should say that they are entitled to participate in dividend distribution but not on an equal basis. You need to pass a special resolution reclassifying the shares as A shares and B Shares and then file the change at Companies House. I look forward to hearing from you. Kind regards AJ

Customer: replied 1 month ago.
would you undertake this share change for us?
Expert:  Alex J. replied 30 days ago.

Hi, I am afraid we are not allowed to draft documents on this site. Do you have an accountant? They should be able to make these filings for you. Kind regards AJ

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