Discussion
So, I'm a company director at last 
It's a mare trying to assimilate all I need to do in a very short space of time but I know I need to minute stuff...
Do I need to minute anything right now? Apologies if it's a daft question but I'm trying to do 500 things all at once
If I do, what format should they take? There's only myself as Director and a company secretary at the mo.
It's a mare trying to assimilate all I need to do in a very short space of time but I know I need to minute stuff...
Do I need to minute anything right now? Apologies if it's a daft question but I'm trying to do 500 things all at once
If I do, what format should they take? There's only myself as Director and a company secretary at the mo.
BliarOut said:
So, I'm a company director at last
It's a mare trying to assimilate all I need to do in a very short space of time but I know I need to minute stuff...
Do I need to minute anything right now? Apologies if it's a daft question but I'm trying to do 500 things all at once
If I do, what format should they take? There's only myself as Director and a company secretary at the mo.
It's a mare trying to assimilate all I need to do in a very short space of time but I know I need to minute stuff...
Do I need to minute anything right now? Apologies if it's a daft question but I'm trying to do 500 things all at once
If I do, what format should they take? There's only myself as Director and a company secretary at the mo.
A minute is purely a reference to a recorded event usually a meeting.
It a formal record that can be referred back to, at the next meeting.
i.e. I asked you (say a sales person) to do XY&Z, and at the next meeting you can ask that person have they been done.
You do not need to minute informal meetings unless you want to.
Hope that make sense?
BTW I will not minute this reply!
I do indeed have far more pressing matters.... But I have to do things in the right order. Now I have a company I can get a bank account opened tomorrow and actually receive some money into the company soon
It was just that one of the forms from one of the prospective banks had a section for minutes relating to choosing an account that got me thinking.
Oh and your replies have been duly minuted
It was just that one of the forms from one of the prospective banks had a section for minutes relating to choosing an account that got me thinking.
Oh and your replies have been duly minuted
Most small companies avail of the relaxation of the requirement to hold formal meetings of directors so, no meetings, no minutes.
HOWEVER, it is good policy to minute some important decisions, such as the decision to pay a dividend, for instance. If you make payments to yourself out of the company, the Revenue can insist that this is salary if you have no documentary proof showing that the payment was made following a review of the company's profitability and a formal decision made following that review.
HOWEVER, it is good policy to minute some important decisions, such as the decision to pay a dividend, for instance. If you make payments to yourself out of the company, the Revenue can insist that this is salary if you have no documentary proof showing that the payment was made following a review of the company's profitability and a formal decision made following that review.
Eric Mc said:
Most small companies avail of the relaxation of the requirement to hold formal meetings of directors so, no meetings, no minutes.
HOWEVER, it is good policy to minute some important decisions, such as the decision to pay a dividend, for instance. If you make payments to yourself out of the company, the Revenue can insist that this is salary if you have no documentary proof showing that the payment was made following a review of the company's profitability and a formal decision made following that review.
Cheers Eric... You should open a Peterborough office HOWEVER, it is good policy to minute some important decisions, such as the decision to pay a dividend, for instance. If you make payments to yourself out of the company, the Revenue can insist that this is salary if you have no documentary proof showing that the payment was made following a review of the company's profitability and a formal decision made following that review.
BliarOut said:
I do indeed have far more pressing matters.... But I have to do things in the right order. Now I have a company I can get a bank account opened tomorrow and actually receive some money into the company soon
Indeed, I am in the same boat as you... most important job is orders, then cash, then sales! Minutes comes a distant 126th...V8 EOL said:
BliarOut said:
I do indeed have far more pressing matters.... But I have to do things in the right order. Now I have a company I can get a bank account opened tomorrow and actually receive some money into the company soon
Indeed, I am in the same boat as you... most important job is orders, then cash, then sales! Minutes comes a distant 126th... I've got a few contracts waiting to go, but I need my bank account details so they can set up the payments... Aargh.
I know it's not ideal and normally I would have put everything in place first but redundancy is a great motivator
Right, time to go out selling again
greenlandy said:
Got any jobs going spare? Looks like mine is not going to be mine from tomorrow. 
Not again... Or the same one? Drop me a textie or an e-mail, I did mail you from my new addy through PH. I put my phone through the wash!!!
You're ECRB, aren't you?
Would you be interested in a few hours a week temping on a short term basis? I haven't got anything at the mo but I'm out and about with my bestest pinstriped suit on! BliarOut said:
I do indeed have far more pressing matters.... But I have to do things in the right order. Now I have a company I can get a bank account opened tomorrow and actually receive some money into the company soon
It was just that one of the forms from one of the prospective banks had a section for minutes relating to choosing an account that got me thinking.
Oh and your replies have been duly minuted
It was just that one of the forms from one of the prospective banks had a section for minutes relating to choosing an account that got me thinking.
Oh and your replies have been duly minuted
Think about joining the FSB - access to free banking (through CoOp)can save a LOT of money compared to outer high street banks.
Good luck with the venture..
Whatever headaches you may encounter, if you're anything like me you'll not regret the decision for a second.Good luck with the venture,
Minutes are for meetings only.
These are things that record decisions made at meetings.
Can you borrow money on behalf of the company, Yes, No
Can you pay yourself a salary, Yes, No
Any changes from last year,
Can you do this,
Can you do that, silly for a small business with one or two directors, I agree but a neccessary part if your company set up requires an AGM, If at anytime in the future you were sued and wanted the protection of the corporate veil, it could argued that you only became a corp/company for the protection it offered. It's best just to play the game.
Minutes are for meetings only.
These are things that record decisions made at meetings.
Can you borrow money on behalf of the company, Yes, No
Can you pay yourself a salary, Yes, No
Any changes from last year,
Can you do this,
Can you do that, silly for a small business with one or two directors, I agree but a neccessary part if your company set up requires an AGM, If at anytime in the future you were sued and wanted the protection of the corporate veil, it could argued that you only became a corp/company for the protection it offered. It's best just to play the game.
Gassing Station | Business | Top of Page | What's New | My Stuff