Arctic Systems Decision

Arctic Systems Decision

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Based on the decision in the House of Lords on the Jones v Garnett (Arctic Systems) I would appreciate some assistance in advising a owner owned business where the husband, a director, assists his wife with the administration on this consulting business. Also the daughter has recently joined the small limited company and will assist with the consulting work.

If each of the directors owned their own share in the company they would be able, based on the above case, to take a salary equivalent to the personal allowance level and then a dividend (subject to available distribited funds after corporation tax).

Can anyone advise me on the value of each of these acquired shares (the only share is valued at £1).

Paul
paul mccarron

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