Hi All,
This is my first post so bear with me.
Basically I want to set up a new company with a family member, This new business will have nothing to do with my current IT consultancy (It involves selling hand made products online).
My question is can I use some of the money I have sitting in my company to invest in the new company with out have first to draw it out and pay tax on in. In a nutshell the company will own part of the new company?
This is not an attempt at a tax dodge, I just want to find the most effective way to start up the new company.
Thanks in advance
This is my first post so bear with me.
Basically I want to set up a new company with a family member, This new business will have nothing to do with my current IT consultancy (It involves selling hand made products online).
My question is can I use some of the money I have sitting in my company to invest in the new company with out have first to draw it out and pay tax on in. In a nutshell the company will own part of the new company?
This is not an attempt at a tax dodge, I just want to find the most effective way to start up the new company.
Thanks in advance
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