Who Can be a Director?
Let us look at a typical example.
We often come across a husband and wife Company where the husband is the Director and the wife is the secretary to the Company.
It comes back to looking at who makes the contributions. If you are looking to make contributions for your wife or your spouse then what we would normally suggest is discussing and agreeing this with the Company’s accountant. The Company spouse becomes a Director of the Company if everybody is in agreement. This will allow increased contributions to the SSAS.
As the children get older, they may wish to come into the Company and be actively involved in a family business. Again, they can be appointed Director, it is up to the shareholders and Directors of the Company to agree to the appointment. Once agreed the SSAS can make contributions for them in the future and look to build up their pensions.
