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Our clients are surveyors and valuers who incorporated their business just over two years ago. There were two partners, now directors, and they each own 50% of the issued share capital.
The firm has several branches, which are each run by a manager. These managers are effectively the second tier of management and they are each paid salaries of £40,000 p.a.
Our clients are surveyors and valuers who incorporated their business just over two years ago. There were two partners now directors and they each own 50% of the issued share capital.
The firm has several branches which are each run by a manager. These managers are effectively the second tier of management and they are each paid salaries of £40 000 p.a.
It has been proposed that the existing shares held by the directors be redesignated as 'A' shares and that 'B' shares be issued to the branch managers. Dividends would be paid on the B shares of perhaps £25 000 per manager per annum with the remuneration for each manager being reduced to £10 000. On these figures there is a sizable National Insurance saving for both the company and the managers.
The B shares would have identical voting rights to the A shares ...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
