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Controlling Director
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Controlling director is a director of a company who owns or controls 20% or more of the ordinary share capital of a company. Shares owned by the director's immediate family are included in calculating the size of his/her stake. Whether you actually draw a salary is irrelevant.
If you're a controlling director of a company you may still make payments into a stakeholder pension as long as you are not 75 or over or already a member of an occupational pension scheme connected to your job. If you are already a member of such a scheme, you may not, as a controlling director, contribute to a stakeholder pension scheme as well.
Last Updated: May 2007 © Moneyextra.com
Our senior editor Robin Amlôt recommends you should consider taking independent financial advice before acting on any article. Please contact us for help with your individual circumstances if any assistance is required.