Issuing B shares
Two directors hold equity shares in unequal proportions.
They would like to take equal salary and equal dividends up to an agreed level then if surplus profits exist distribute a balance in accordance with their equity shares.
The suggestion is to issue B shares out of profits which will give them a right to share dividends equally.
Mems and Arts and resolutions can be taken care of but are there any tax pitfalls in this proposal?
Anyone with previous experience please?