My husband and I currently run a business. I want to buy an existing business of the same type in just my name and set up my company putting our current joint business in his name and have separate accounts etc. so the two business with separate names are run by each of us as individual companies. We are currently in a partnership which we would dissolve and he would in theory buy me out. Is this possible?
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Possible yes. Possible pitfalls yes.
You really need to sit down with an accountant and go over the detail in a depth that you can't on a free forum.
If the businesses are in the same sector, consider VAT disaggregation rules, and the similar rules for Capital Allowances and connected businesses.
Generally talk over the figures as to whether a company(s) is best structure.
Finally the acquisition price of the new businesses, how it's apportioned, risk profile, amortisation of goodwill, loss relief in early years, come to mind.
I hope that helps to give you some things to think about, if not the answers.
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