How many shares in a start-up?

[Sour Mash]

Hi all!
I'm starting a business (limited company) with two more partners and my question is:
How many shares should we issue in the beginning?
My idea is to issue 100 shares of £1 nominal value each and then split it according to the percentages we decided.
Many thanks

 

[Scalloway]

You can issue as many shares as you want. £100 is fine. If you need to put more money in you can put it in as director's loan, which can be repaid at a later date.

 

[Sour Mash]

Great! Thanks

 

[william04]

But the point to be remember is you may have to pay tax on director’s loans.

 

[Scalloway]

You don't pay tax on directors loans advanced to the business. This is what the OP has been recommended to do.

You do pay tax if the company advances a loan to a director.

 

[DavidAshdown]

But the point to be remember is you may have to pay tax on director’s loans.

Why would you pay tax on a director's loan?

 

[MyAccountantOnline]

But the point to be remember is you may have to pay tax on director’s loans.

Potential tax liabilities only arise on overdrawn directors loans.