Recent content by nicknock

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    Client cancelled project and wants deposit back

    Well our terms are 50 % upfront, 50 % on completion, we don't actually term it as a deposit but it essentially is. We feel as though charging for time already spent is a fair approach but equally there is potential damage to other relationships to consider. Hopefully other clients will be...
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    Client cancelled project and wants deposit back

    Hi A client has cancelled a large event we were managing the marketing for after paying us a 50 % deposit. He cancelled with no notice due to issues with the local authorities, no fault of ours. He has asked for his full deposit back. Our contract says he must give a months notice, but we...
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    Shareholder wants to step down as Director but keep shares!

    It is going well, I just meant wind down the current company and put it under a new business name. Ultimately, I already feel worried and resentful that I am now shouldered with all of the responsibility while she hands it over, does her 3 days a week but takes the same money. I completely...
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    Shareholder wants to step down as Director but keep shares!

    We're actually still at the negotiating stage, she has said she is happy to give me some of her shares but that isn't really the point. We agreed 50/50 in every sense, operationally, profits etc. Im just wondering if theres any way around it, winding the company down maybe?
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    Shareholder wants to step down as Director but keep shares!

    Well we do have a business adviser and an accountant that have witnessed the various conversations around what our responsibilities and roles in the company are. Don't know if thats helpful!?
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    Shareholder wants to step down as Director but keep shares!

    We don't have one unfortunately, everythings been verbal, which I know is stupid, but you take these things as read don't you.
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    Shareholder wants to step down as Director but keep shares!

    Unfortunately we don't have a shareholders agreement. Because its been going so well, this has come out the blue really and stupidly I know, we never got round to sorting a shareholders agreement because we were so busy and then you don't think these things will happen!
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    Shareholder wants to step down as Director but keep shares!

    No but if the agreement WAS that you would do Saturdays at Tesco for your salary and dividend then surely you can't just stop haha!
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    Shareholder wants to step down as Director but keep shares!

    I know they are, and of course on paper she owns half the company but if the agreement was based on 50 % responsibility, then that changes things legally? From what I've read, there are different levels of Directorship meaning you're entitled to different levels of shares. Might need to add...
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    Shareholder wants to step down as Director but keep shares!

    Hi I went in to business with my partner around a year ago and we've gone from strength to strength. Unfortunately it's become too much for her to deal with as she has kids and she doesn't want the responsibility of running the business anymore and wants to reduce her hours to 3 days a week...
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    Forming a partnership, shares and finance help

    I meant rethink giving her 50 %, not rethink working together. I trust her but her apprehension about putting her name to finance has made me doubt the commitment level.
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    Forming a partnership, shares and finance help

    Sorry I should've been clear, by partnership I meant the income and business, brand etc will be split 50/50. We will both be equal directors of a limited company.
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    Can client reduce retainer payment with no notice?

    Hi I am contracted to provide marketing services to a client until end of December on a retained basis at a fee of 3k per month. Around a month ago, the client asked if we could look at reducing our fee as budget was tight. We put a new proposal in for £2,300 per month but the client said...
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    Confused over VAT with a profit share client?

    Brilliant! Thanks for your help everyone. I usually just invoice for my services plus VAT, much more simple than this profit share set up :) Many thanks
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    Confused over VAT with a profit share client?

    Hi Yes my client is VAT registered. Its a consumer event, so we charge £5 per ticket, no VAT charged to the consumer BUT we both pay VAT on the sale as we're both registered dont we? We are selling tickets in volumes so it all adds up, we're hoping to make about 5 k on the event. I...
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