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I'm not an expert, but when my husband was filling out my FLR(M) application, he declared was an employee from one company and director from other two. However, he only chose one company to rely on (the one that met the criteria the most), and he submitted exclusively the financial evidence from that company. When we applied for the visa, the financial evidence did pass.
Just to clarify something, the threshold in your case is £22,400, as it counts as 1 child in addition to the partner. It doesn't matter whether your child is British or not, that's your current threshold.
As far as I know, this is incorrect. The financial requirements rely on the sponsor (that means you, not your wife). You have to respond as the sponsor. You must be able to provide evidence of your finances as an employee, company's director, academic grant, savings, etc, to meet the minimum income. At least that's how we filled in my application.
Preferably only use your employment to meet the financial requirement. You can even leave to give your directorship details if you wont using that route.