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Where Taxpayers and Advisers Meet
Paying one shareholder more than the others - is this still ok
Hi we have three Directors/Shareholders each with a different class of share (A,B,C). In the past we have paid the odd 10K dividend to just one Director (one class of share) and we would like to do this again now. Our accountant advises that this is still fine but, I just wanted to ensure that this is still deemed a valid way of paying a dividend to one shareholder now that the tax rules have changed on dividends. The shareholder would receive the first 5K tax free but would pay the higher rate level on the remaining 5K. Thanks for your advice.
Re: Paying one shareholder more than the others - is this still ok
It's still legally fine. HMRC do seem to have an aversion to alphabet shares, but as long as reasons can be justified commercially there should be no problem.
