We own a 3rd of the shares each. The 3 shareholders agree that the 2 full time shareholders should extract more from the business as dividend income but the 3rd shareholder does not want to reduce their share in the original business.
I have proposed that me and the other full time director form a separate company. The original company that we will continue to be directors and shareholders of, will sub contract the high value work to us. We will then take our income as a dividend from the new company.
We are concerned that this new company may be caught under IR35 legislation. Is this the case?
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Laura764
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