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mantas mantas is offline
Newbie
Join Date: Apr 2008
Posts: 1
Single member company

Hello guys,

I'm thinking to start my own company.

But I have a few questions.

I qoute companieshouse.gov.uk:

"2. Can a single member run the company?

No. The company must still have at least one director and a secretary who cannot also be the sole director."

I'm confused. Can me (the owner) be director? And then let's say my girlfriend be a secretary?

Also, do I have to pay wages each week/month to both director and secretary, and how much?

Is there are any more fees involved, when company is active, but not making much. Let's say only 100 pounds per month?

I don't expect straight forward answer. If there's lot of information about this somewhere, I'm happy to be directed there.

Thank you very much.
Kind regards,
Mantas S.
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TheJoshM TheJoshM is offline
Connector
Join Date: Mar 2006
Location: Gloucestershire
Posts: 554
Hello,

Welcome to the forum.

Can I ask why you're forming a ltd company?

Regards,
Josh
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Martin Martin is offline
Connector
Join Date: Jul 2002
Location: Luton, Bedfordshire
Posts: 2,726
Re: Single member company

Quote:
Originally posted by mantas
Hello guys,

I'm thinking to start my own company.

But I have a few questions.

I qoute companieshouse.gov.uk:

"2. Can a single member run the company?

No. The company must still have at least one director and a secretary who cannot also be the sole director."
Your accountant (if you don't have one - you will need one) could act as a company secretary - many do, so its worth speaking to one.

James Smith is accountant who I'm sure could help you.
http://www.jamesesmith.co.uk

Quote:
I'm confused. Can me (the owner) be director? And then let's say my girlfriend be a secretary?
Yes, but its worth noting they have responsibilities - http://www.businesslink.gov.uk/bdotg...cId=1073887645

Quote:
Also, do I have to pay wages each week/month to both director and secretary, and how much?
That's for you to work out between you and your staff.

Quote:
Is there are any more fees involved, when company is active, but not making much. Let's say only 100 pounds per month?
You will still have accountancy costs for your tax returns and other bits and bobs.

Quote:
I don't expect straight forward answer. If there's lot of information about this somewhere, I'm happy to be directed there.
I think the above sentence is one of those things your meant to think but not say out loud?

I hope you find the above straight forward.

Regards,

Martin
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