I'm looking to set up a plan B with some former colleagues. We plan to set up a LTD for the venture and each put in a few thousand to get it off the ground.
Does the panel have any thoughts on whether it makes more sense for my to be a shareholder in this new entity directly, or to hold the shares through my limited?
I'm thinking the benefit of doing it through my LTD is that I won't have to pay any personal tax on the startup money, but I'm curious as to whether taking this hit in the short term may be better in the long term if the idea started to make some decent money. e.g. if the company started paying dividends or got taken over.
I'm going to get my accountant's input as well, but wondered if anyone on here had done anything similar. If it was a sole venture I would just do it through my ltd, but the fact other people are involved means a separate company needs to be formed.
Does the panel have any thoughts on whether it makes more sense for my to be a shareholder in this new entity directly, or to hold the shares through my limited?
I'm thinking the benefit of doing it through my LTD is that I won't have to pay any personal tax on the startup money, but I'm curious as to whether taking this hit in the short term may be better in the long term if the idea started to make some decent money. e.g. if the company started paying dividends or got taken over.
I'm going to get my accountant's input as well, but wondered if anyone on here had done anything similar. If it was a sole venture I would just do it through my ltd, but the fact other people are involved means a separate company needs to be formed.
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