Single member company

[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."

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.

[TheJoshM]

Hello,

Welcome to the forum.

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

Regards,
Josh

[Martin]

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

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

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.

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.

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