Thread: LPG a word of warning

Originally Posted by Maca49

Munsey get your wife de registered as a Director on Monday! You can do it on line, become the sole director of your company ASAP. Unless your paying your wife zillions it not worth her being a director. Make sure she is able to access the company bank account, in case you can't. If she doesn't work, take drawings for her from the business and split the total income for income tax. I'd never have my wife as a director! Make sure you carry enough life cover for your debts minimum, so she is sorted if the worse happens and get the company to pay key man health insurance for you and tack you wife onto that. With all that in place if I get fined $500 k for a stuff up, I alone will go thru the courts, only I will have to top myself if the depression gets to bad and my wife and family will have money in their pockets.

Make sure you don't pay your life insurance through the company, you might get a shock after the tax man takes his bit on pay out