Question on Changing shareholders and directors

piratepirate Trusted RegularRegistered Posts: 469
Hi there,

I wanted some other opinions on this,

I have a limited company and there are 2 directors.
Both directors were working in the company and had equal shares in the last financial year.
Towards the end of the last financial year for the company one of the directors took a job which ended up going full time. Roughly 4 months before the end of the financial year.
Salary is taken as dividends and salary
Drawings have already been taken but this coupled with salary have made him go over the 40% threshold.
No dividends have yet been declared

The director who is working now doesnt require any dividends (or want any due to high rate tax)

a) Can we now remove one of the directors and change the shareholding. I am being told this is a no no but not really been given any explanation
b) I told my accountant that this had happened in November in writing and I was worried about the 40% tax piece and what could I do to ensure if didnt happen. He told me that it was fine and relief could be obtained and they would work it all out when they received my paperwork. I spoke to them in almost at the end of the financial year and they said it was too late and nothing could be done. I find it a bit confusing to be honest.
b) can we take less in dividends from last year or is it too late after the fact
c) also can the description of the business be changed

many thanks
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