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Where Taxpayers and Advisers Meet

15 year old shareholder

enterpeneur_of_the_year
Posts:1
Joined:Tue Jul 11, 2017 9:03 pm
15 year old shareholder

Postby enterpeneur_of_the_year » Tue Jul 11, 2017 9:32 pm

I'm thinking of starting a business with my 15 year old brother. I was thinking of setting up an LTD and make him a shareholder as the min age to be a director is 16.
I can't make him an employee either as hes not working age.
Is this legal? and what are the tax implications of getting him paid?


Thanks in advance

pawncob
Posts:5099
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: 15 year old shareholder

Postby pawncob » Fri Jul 14, 2017 12:02 pm

there are no age restriction on employment, other than H & S and child slavery requirements.
With a pinch of salt take what I say, but don't exceed your RDA


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