Declaring dividends

luckyluke7

I am the sole director of a Ltd company, which i set up with no appointed company secretary. So i am in effect the only employee of my company. Now, the way i understand it, in order to declare a dividend i need to hold a meeting and minute the fact that a dividend payment is to be made but surely it will look a bit strange that i held a meeting with myself being the only witness/person present? Do i need to have someone else present in the meeting/minutes as a witness or can i hold a meeting with just myself present?

Ste_C

You don't need to hold an actual meeting. Just print out some minutes saying "It was agreed at a directors meeting to declare a dividend of £xx per share" and keep that with your statutory documents.

That's it.

luckyluke7

Ste_C wrote: »

You don't need to hold an actual meeting. Just print out some minutes saying "It was agreed at a directors meeting to declare a dividend of £xx per share" and keep that with your statutory documents.

That's it.

When preparing the minutes is it ok to just put myself as the only person who attended the meeting or is it recommended to have a witness?

olly300

luckyluke7 wrote: »

When preparing the minutes is it ok to just put myself as the only person who attended the meeting or is it recommended to have a witness?

Just put yourself down by name as being present.