1,500+ Business Documents

< Go back

Topic: Profit extraction

directors' benefits in kind - board minutes and contract clause
File size:
25.00kB

# Pages:
1

Directors' benefits in kind - board minutes and contract clause

Directors’ benefits in kind - board minute and contract clause

Where your company provides a director with benefits in kind, it’s good practice for the arrangement to be recorded in a board minute and in the director’s contract.

 

remunertation package

There is no need for any special wording for a board minute. The purpose is only to record that the board approved the method of remuneration for a director, therefore you just need a statement of the facts as a record for future reference.

Where the nature of a director’s remuneration changes it should be reflected in their employment contract (also known as a service contract).

 

© Indicator - FL Memo Ltd • Telephone: (01233) 653500 • Fax: (01233) 647100 • customer.services@indicator-flm.co.uk • www.indicator-flm.co.uk
Calgarth House, 39-41 Bank Street, Ashford, Kent TN23 1DQ • VAT GB 726 598 394 • Registered in England • Company Registration No. 3599719