Running your own fund - FSA Regulation

This is a discussion on Running your own fund - FSA Regulation within the Home Trader forums, part of the Trading Career category; Thanks i can read, i did realise that was the max punishment but u were using that as a reason ...

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Old Jan 9, 2004, 12:54pm   #22
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Thanks i can read, i did realise that was the max punishment but u were using that as a reason for not doing it how u wanted to

I think u very warm to the ideal solution but just missed out one small detail

Surely the best way is to set up a company, distribute the shares out as per amount put in, PAY YOURSELF A WAGE from the company because u are putting in most effort and pay the profits out in dividends-problem solved surely?
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Old Jan 9, 2004, 12:56pm   #23
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Or initially distribute more shares to yourself?
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Old Jan 9, 2004, 4:43pm   #24
 
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jls483 started this thread Thanks to all, even MCGF, it does sound as if the corporate solution is the best so far. The only major downside I have discovered so far is that corporation tax for such companies is 30% rather than the usual 20%

John.
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Old Jan 9, 2004, 4:51pm   #25
 
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jls483 started this thread OK - here is another question - sort of related. If I form a company and the company places a bet either on the horses or a spreadbet - are the profits tax free or will they still be liable to corporation tax? Would any spreadbet companies open a corporate account?

If the company made all of it is profits out of gambling (and they were all tax free) presumably the dividends would still have a tax credit for the shareholders?

Thanks,

John.
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Old Jan 9, 2004, 4:52pm   #26
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Would a director of a ltd co be able to legally use company funds to gamble? Could be another sure fire way of getting carted off to the slammer.
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Old Jan 9, 2004, 4:56pm   #27
 
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jls483 started this thread Obviously it would be with the shareholders blessing
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Old Jan 9, 2004, 5:12pm   #28
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I still think there could be something lurking in directors duties and gambling with company funds.

Don't know for definite. just a hunch.
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