22 November 2006
My client is 62 and, with his wife, is the co-owner of a small and growing company, formed ten years ago and now with an annual turnover of over £300,000. Current profits after directors' remuneration are not significant and no dividends have been declared. Husband and wife each own one issued share out of an authorised share capital of £100. The company has no fixed assets to speak of, and trades from rented premises.
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