Originally posted by tractor
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Which structure should I use
Collapse
X
-
-
...
Originally posted by dx4100 View PostYup... Its complicated by the fact I owe him a favour
I guess it depends on how much effort is involved. If it is too much, tell him you will design it then test it when someone else has completed the codingComment
-
Originally posted by dx4100 View PostI will invoice him from my own company on a monthly basis.
As far as the business of splitting 50/50 goes I can see all your points. He is going to be the senior one. I don't want any involvement outside of developing the site for him. I have other things to concern myself with.
I need to think of a structure that allows him to make money and keep going but also recognise I did the work initially.
I owe the guy a favour. If its all just a lot of wasted effort then its not going to end my world
Cheers for all the feedback!
If you're serious about it, i'd consider setting up a separate limited company, split whatever way you feel appropriate. 50/50? 40/60? etc
I would keep your existing limited company well away from this.
Also, think about what you said, "I don't want any involvement outside of developing the site for him.". What about maintenance or other improvement if/when the customer base gets larger?Contracting: more of the money, less of the sh1tComment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment