Can shareholders work for free in their own ltd?

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Hello to everyone!

My partner and me have set up a ltd. Both of us are currently working as an employees in different companies. We would like to work for our own company during our free time but without receiving any salary.

I was thinking to get the compensation through the dividends if this was the case.

My partner is going to do some software development and I am going to do some bookkeeping.We have got 2 different sic codes.

I understand that if my partner was the director he would have to become self employed ?? Is this right?

Another thing there any possibility to get a liability insurance for myself being only shareholder and working for free for my own company?  Must  the liability insurance be under my name? Or under the company name?


Briara I.


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