How to pay?

[antonioG]

I'm setting up a Limited Company with another person. Basically I will take 85% and he the remaning 15%

I will be doing the work of the company, he will will essentially be acting as an agent and winning/directing work the way of the new co.

The company will be acquiring assets out of the revenues.

He also wants 15% of the net from all work. We have an MoU of what net is.

How would it be best to get paid?

[elainec100@cheapaccounting]

Firstly what is the shareholding.

This is really the type of thing to sort out before setting company up to ensure the best structure and most efficient tax treatment.

Suggest you get an accountant on board asap