jed.w
Member Since: 02 Jan 2011
Location: West Lancashire
Posts: 191
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If you enter into a partnership at 50:50, you immediately take on 50% of his debt.
If you form a limited partnership, he can not absorb his debt into the limited company because it would put the directors loan account into a negative from the start.
You could just make him a loan with a dividend payback, but this would have an impact on you tax position.
What Im saying is, if it looks too good to be true, and nice and easy to throw money at, it is too good to be true!
With 40% margins on half a mill T/O, why is he in debt?
Think about it. SDV6 HSE Sport2 - Santorini Black, Ebony Interior, Pano Roof, Things I haven't found yet!
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Thu Jul 14 2011 8:41pm |
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leedsunited
Member Since: 04 Aug 2008
Location: Selby
Posts: 1368
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jed.w wrote:If you enter into a partnership at 50:50, you immediately take on 50% of his debt.
If you form a limited partnership, he can not absorb his debt into the limited company because it would put the directors loan account into a negative from the start.
You could just make him a loan with a dividend payback, but this would have an impact on you tax position.
What Im saying is, if it looks too good to be true, and nice and easy to throw money at, it is too good to be true!
With 40% margins on half a mill T/O, why is he in debt?
Think about it.
Jed - What i said was forecasted over next 12 months T/O at 40% margin, i know it is out there and in the pipe as i brought it to the table, one of the problems is managing the fast growth we are seeing as a result and the cash flow to make it happen.
I see a good opprtunity just not sure how to get a good slice of the action whilst minimising my risk on the way, as i said i have worked in the business for the last 6 months as a consultant and can see a genuine opportunity for both he and myself, but it will not work without both of us.
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Thu Jul 14 2011 9:20pm |
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