How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Alex J. Your Own Question
Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3840
Experience:  Solicitors 2 years plus PQE
Type Your Law Question Here...
Alex J. is online now

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 year ago.
Category: Law
Customer: replied 1 year 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 year 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 year ago.
would you undertake this share change for us?
Expert:  Alex J. replied 1 year 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