Originally posted by stealer
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Dividends need to be paid in accordance with things would get messy if you had 70% of the earnings but held 50% of the shares. How would you deal with that eventuality?
As far as IR35 is concerned, this process is largely irrelevant. As has been posted many times before IR35 is concerned with the working relationship behind a particular contract.
Have you considered the implications on VFRS? Two incomes could take you over £150K quite easily and then you'd have to come out of the flat rate scheme.
What happens to the assets of the company if (heaven forfend!) you and the GF split up?
In summary, its OK to do but I wouldn't receommend it.Comment
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Originally posted by Just1morethen View PostDividends need to be paid in accordance with things would get messy if you had 70% of the earnings but held 50% of the shares. How would you deal with that eventuality?
As far as IR35 is concerned, this process is largely irrelevant. As has been posted many times before IR35 is concerned with the working relationship behind a particular contract.
Have you considered the implications on VFRS? Two incomes could take you over £150K quite easily and then you'd have to come out of the flat rate scheme.
What happens to the assets of the company if (heaven forfend!) you and the GF split up?
In summary, its OK to do but I wouldn't receommend it.
I guess, further down the line, if anyone in this situation were likely to split, you'd deal with it the same way any partnership does, be that professional or personal. There's always joint possessions, property, houses etc in a relationship.Comment
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