can I earn money as a trustee or director of a ‘guarantee’ company?

No Trustee/Director of a company (or charity) limited by guarantee may be an employee of that company or earn a wage or salary from it.

However, Trustees are permitted to receive reimbursement of out-of-pocket expenses incurred on behalf of the company. Trustees may also receive rental for property used by the company or professional fees for services provided to the company (e.g. accountancy or legal fees).

Note, however, that a Trustee who was providing such services would not be allowed to vote on matters relating to contracts for such services (i.e. they would need to leave the meeting while any such matters were being discussed).

 

 


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