Hi,
Not sure as to whether this should be in Aab or here, so mods please move as you see fit.
Just wondering which type of business would be best for a group of people planning to pool money for an investment fund?
There will be approximately 4 of us (thinking about making it 5 for voting purposes) and our original idea was to set up a limited company. However, the father of one of those participating suggested we enter as a partnership, "to avoid paying tax twice".
Is this correct? Would a partnership not be subjected to the same taxes as an individual,s opposed to the 12.5% available to companies?
Are there L.L.P.'s in Ireland or do they have unlimited liability? Must they file tax returns? Must the partnership be by name of those involved (i.e. Smith & Murphy) or could it be Invotech for example?
Regards,
jbax.
Not sure as to whether this should be in Aab or here, so mods please move as you see fit.
Just wondering which type of business would be best for a group of people planning to pool money for an investment fund?
There will be approximately 4 of us (thinking about making it 5 for voting purposes) and our original idea was to set up a limited company. However, the father of one of those participating suggested we enter as a partnership, "to avoid paying tax twice".
Is this correct? Would a partnership not be subjected to the same taxes as an individual,s opposed to the 12.5% available to companies?
Are there L.L.P.'s in Ireland or do they have unlimited liability? Must they file tax returns? Must the partnership be by name of those involved (i.e. Smith & Murphy) or could it be Invotech for example?
Regards,
jbax.