Mungo

Looking for some advice with a potential scenario.
A business has 2 owners, but they might want to get their cash out at different times. One's a retired person, the other 30ish.
First thing is capitalisation. Do you put a lot of share capital in, or a minimal amount and fund the rest with Director's loans? Interest on loans is deductible.
Assume funding is with share capital, the company could repurchase shares to buy out the retired owner, but they'd pay capital gains tax on profits in the gain. I think there might be taper relief available, but I'm not sure.
Now assume the company is funded with director's loans. There are 2 options - the loan can be repaid, or a dividend can be paid (dividend couldn't be paid above as the share capital isn't distributable). However, the younger person doesn't want to receive a dividend as this is bad for their personal tax situation. Is there anyway that the 2 owners can have different classes of shares which get around this?

I know we'll need to take professional advice. I'll start with Business Link. Any other recommendations? The company will be developing property and buying to let.