Director on the side...

trailingspouse

I've just noticed that your locations is 'Cyprus/UK'. If part of your income from the ltd company is from the EU, you will need to complete EC Sales lists too. You've got a lot of homework to do!! But don't despair - this time last year I knew nothing of these things either - but there are people out there to help.

Wywth

trailingspouse wrote: »

I would beg to disagree with the above post. She can of course take a salary - providing she actually does work for the company, and actually gets paid - but she doesn't need to be a director to do this. If she's a director, she'll be paid a dividend, which might be more tax efficient...

Keep begging, but directors are not paid dividends.
Shareholders may receive dividends, but never directors (unless they are also a shareholder).

Directors are approinted to run a company on behalf of the owners/shareholders.

Usually where a company has more than one director, one is appointed a Managing Director (or in the case of larger corporations, two, a Chaiman and Chief Operating Officer whose roles are defined) who can have the final say in any board level discussions.

trailingspouse

Fairplay to you Wywth - we're both directors and shareholders. It's likely that the OP and his partner would have the same arrangement. But thank you for making the distinction.