Originally posted by WordIsBond
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Rearranging shareholdings
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Originally posted by ittony View PostNo. Because it makes a profit.Comment
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OK, so I’m trying to understand the convoluted story. Tell me which bits are wrong:
1. You’ve been offered some work for a company
2. You (or they) have come up with a plan to temporarily give you shares in the company.
3. You get paid dividends, rather than being paid as a salary or a contract rate.
4. The dividends do not go to an umbrella or Ltd, but directly into your personal account.
5. When the work finishes, so does your shareholding in the company.
There’s no contract, no insurance, no work-related pay.
Am I close?…Maybe we ain’t that young anymoreComment
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Originally posted by ittony View PostI'd be offering Jam Today in return for my questions answered. Do all accountants work only on a Jam Indefinitely basis?
You’re doing work for no pay, but expect shares in lieu of payment.
Or have I misunderstood?See You Next TuesdayComment
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All I can think is there are two scenarios here.
1. Tom and Dick are trying to get loads of free work from Harry. Tom and Dick are smart. Harry is an idiot.
2. Tom and Dick are idiots. Harry doesn’t realise this so is contemplating working with them.
There’s no way near enough detail to make any better informed decisions.
If Harry is smart he’ll either walk away or seek professional legal advice.See You Next TuesdayComment
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Originally posted by ittony View PostNo.
Because it makes a profit.Comment
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Does Harry realise that with just 20% of the shares, Tom and Dick can simply increase the number of shares in the business and effectively dilute Harry as low as they desire? This is legal, and common. Only a rigid contract can prevent this.See You Next TuesdayComment
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Originally posted by Lance View PostDoes Harry realise that with just 20% of the shares, Tom and Dick can simply increase the number of shares in the business and effectively dilute Harry as low as they desire? This is legal, and common. Only a rigid contract can prevent this.Comment
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Originally posted by Lance View PostYou’re the one working for jam....
You’re doing work for no pay, but expect shares in lieu of payment.
Or have I misunderstood?Comment
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