Yes, as long as the articles of association allow it. Many 'off the peg' articles do not allow it, but this can be changed by a simple resolution.
Obviously the position concerning salary / dividends will need to be discussed with your IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk