Investing in shares on others behalf?
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Post a project like this£34/hr(approx. $43/hr)
- Posted:
- Proposals: 7
- Remote
- #3450086
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ACCA, CFA Expert in Bookkeeping, Financial Reporting,Forecasting,Forensic Auditing, Management Accounting, Auditing,
Faisalabad
590552147582656231486324010638476765537546571053
Description
Experience Level: Expert
I have invested on the stock market myself for the last 7 years. Started whilst a univeristy.
Now I am a qualified accountant and a family friend has offered my £5k to invest on thier behalf.
Problem is, I am not a qualifed financal adviser and I am aware their are very strict rules around investing other peoples money and offering financal advise. I dont believe I am legally qualified to do so even as an accountant.
However, one way around this problem, I believe may be to set up as a company where they put the money in as a shareholder and I as a just a diector. This way I am not offering them financal advise as the company is seperate legal entity.
Problem is, from what I can garther they would be tax twice. Capital gains tax + tax on a dividend if they ever extracted the money.
Anyone know how I can do this in a legally + low tax way?
Seems like a lot of messying around for £5k. but I dont want to say no!!!!
Can anyone advise?
Thanks
Joe
Now I am a qualified accountant and a family friend has offered my £5k to invest on thier behalf.
Problem is, I am not a qualifed financal adviser and I am aware their are very strict rules around investing other peoples money and offering financal advise. I dont believe I am legally qualified to do so even as an accountant.
However, one way around this problem, I believe may be to set up as a company where they put the money in as a shareholder and I as a just a diector. This way I am not offering them financal advise as the company is seperate legal entity.
Problem is, from what I can garther they would be tax twice. Capital gains tax + tax on a dividend if they ever extracted the money.
Anyone know how I can do this in a legally + low tax way?
Seems like a lot of messying around for £5k. but I dont want to say no!!!!
Can anyone advise?
Thanks
Joe
Joseph W.
100% (6)Projects Completed
5
Freelancers worked with
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Projects awarded
42%
Last project
18 Aug 2022
United Kingdom
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