THX1138
Forum Replies Created
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Thanks for the Gumshoe Sleuth tip. ‘Sweat Equity’ in fair echange, no profit is involved.
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There is also no option on the UK tax form to state that you will not be making a return next year 🙁
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Thanks very much Morag. Good info. Were these transcripts from Mark’s talks?
I have heard now, mostly from Mark and also from Peter Duff who does the Foundations, that BOTH a Trust and a Foundation can be ran as a business. The main difference being that only the Trust can hold titles.
So, if that is correct, then in my example I gave in the first message above – this is a health clinic that has intellectual property – then they need a Trust first to hold the IP and a Foundation to interface with the Public.
Any thoughts anyone?
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Thanks very much morag.
From reading those documents, it seems as though the best way to go would be to run their Health Clinic as a Trust rather than a Foundation and then donate all extra money [profits] the Trust makes each year to the Private Foundation. Does that seem right or can it be done the other way around?
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The ‘Letterbox Rule’ in contract law doctrine might be useful, it was related to contract. It states that a contract is accepted, or rejected, at the moment of posting, not at reception or delivery.
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On the top menu “Contact”
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Thanks for the info morag.
Any ideas anyone on what to call incoming money when dealing with HMRC the UL tax people?
It seems we can’t use ‘productivity of labour’ due to the definition of ’emoluments’, although that deinition was from a legal dictionary site so may not match HMRC’s definition. Amazing that they seem to be claiming a share of a wo/mans labour!
Anyone have any experience with using Mark’s methods in the UK?