I want to be able to set up two separate classes of shares for a husband & wife limited company. Both work in the business, but we want to be bale to pay separate amounts of dividends.
What is the best way of going about this?
Do we need to have the articles amended?
Replies (2)
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personally, i would probably as an example issue 3 shares in total, 2 in one persons name, and one in the other, that way the profit split would be 33:66.
Is that the sort of thing you are trying to do? there is always the route using preference shares..
Articles
If it is an existing company, you need to amend the Articles by Special Resolution of the existing members and file both the resolution and a copy of the Articles as amended at Companies House, together with a form SH11. You then need to pass a resolution to re-designate the existing ordinary shares as A Ordinary and B Ordinary.
I would ask one of the company formation agents to do this for you.