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Contractors adding spouse as shareholder

Sole director/contractor - spouse shareholding

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Hi,

is it allowed for a Ltd contractor to add spouse ( who does not work) as a shareholder in the company to maximise household tax efficiency by now chanelling dividends to two shareholders instead of one?

Do we have legislation/hmrc guidance available in this regard?

Replies (7)

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By JDBENJAMIN
30th Nov 2019 18:13

Yes, it is allowed, but there are a lot of things to consider. The fact that you are asking this suggests you would be out of your depth taking this any further by yourself, so I suggest you engage someone with more experience.

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Chris M
By mr. mischief
30th Nov 2019 18:14

Yes.

Artcic Systems aka Harnett v Jones, 2007 or so.

Thanks (1)
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By Accountant A
30th Nov 2019 20:21

If you have to ask the question (and then ask it in the way you have) then you are not qualified to be advising on the matter. Sorry, but it really is that simple. If you have PII, you need to read the conditions.

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Replying to Accountant A:
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By Newb121
01st Dec 2019 10:23

Accountant A wrote:

If you have to ask the question (and then ask it in the way you have) then you are not qualified to be advising on the matter. Sorry, but it really is that simple. If you have PII, you need to read the conditions.

Great help, thanks alot

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Replying to Newb121:
RLI
By lionofludesch
01st Dec 2019 10:43

Newb121 wrote:

Accountant A wrote:

If you have to ask the question (and then ask it in the way you have) then you are not qualified to be advising on the matter. Sorry, but it really is that simple. If you have PII, you need to read the conditions.

Great help, thanks alot

JDBENJAMIN said the same and you thanked him.

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Replying to lionofludesch:
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By Newb121
01st Dec 2019 11:19

lionofludesch wrote:

Newb121 wrote:

Accountant A wrote:

If you have to ask the question (and then ask it in the way you have) then you are not qualified to be advising on the matter. Sorry, but it really is that simple. If you have PII, you need to read the conditions.

Great help, thanks alot

JDBENJAMIN said the same and you thanked him.

I thanked all, its always helpful to have a response atleast, regardless of whether it supports immediately or signposts for a better research

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By Newb121
01st Dec 2019 10:21

Thanks JDbenjamin and mr.michief.

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