Can shareholder be paid as contractor?

Hi, I am a 40% shareholder in a UK company and I also do some sporadic work for the company. Is it at the discretion of the company whether to pay me in the form of dividends or as a contractor and how to allocate between the two ways of payment? As I live outside the UK, I would just pay 20% on my income as a contractor or about the same on dividends, but if I am getting paid as a contractor, that's an expense for the company and thereby it would pay less corporation tax. To be clear, I am not a director of the company and do not run it day to day. Thanks!

Hi,
This is between you and the company and financial advise.
HMRC cannot advise you on this.
Thank you.