My Brain hurts!!

[paula1973]

Hey guy's, i need some advice, right here goes, my salon is set to open next month, and the stress is giving me brain ache! The fitting it out bit is fine, no worry about enough clients or any of that stuff it's all the legal stuff!
I'm sharing a salon with another girl, i've registered the company name, now not sure if that was the right thing to do, am i now forced to register for vat? And how do we stand just sharing a building, company name etc but are responsible for our own tax and profits, as we are not a partnership and dont want to be
Hope some one can stop my brain from hurting
Lovbe Paula x

 

[Cath.p.]

Awww poor Paula. I can't help you so I'm sending a hug instead.....:hug: x

 

[Sparklepink]

mmmm thats a difficult one..... i was going into partnership with a former colleague but fortunately for me in the end she pulled out
i want to do things like you and share everything but what ever money we had earned our selves was our own.... the other tech wanted to split it.... mmm guess who earned the least....nt me!.....lol.... i put my foot down :lol:

i think you need to have a contract between you so you are both protected and in a way its like you are both renting the space equally

why nt mention it to your solicitor that is helping you with all the legal side and see what they say

it sounds to me like you will be in a kinda partnership but that things will be divided .... the only way is to have a document/contract made up to clarify everything for you both... basically you can add that you are both sole traders renting the salon equally and that you are both responsible for your own book keeping/ tax etc.....

hth

and if i can help any more just pm me

Jess
xox

 

[inspirations]

Can't give practical help. You would be best seeking that from a solicitor specialising in business stuff...

But, what I will say is GOOD LUCK I would love to have the bottle to set up a salon.

 

[*JOANNE*]

cant give you any advice,
but best of luck with it mate......love ya