If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Investment club

Iamme1960 · 2017-09-19 18:45:08

i know its probably been on here before but what are the legal implications if a group of say 10 friends decide to invest small amounts of money? do they need any legal agreement? and is it usual for one member to take charge of actually making the investment

19-09-2017 6:45pm

#1
Iamme1960

Closed Accounts Posts: 15 ✭

Join Date: September 2017

Posts: 13
i know its probably been on here before but what are the legal implications if a group of say 10 friends decide to invest small amounts of money? do they need any legal agreement? and is it usual for one member to take charge of actually making the investment

Tagged:

investment club

savings club

0

Comments

#2 19-09-2017 10:29pm

Atlantic Dawn

Registered Users, Registered Users 2 Posts: 84,762 ✭✭✭✭

M

Join Date: January 2010

Posts: 84335

Gets complex around taxation, if it's in one persons name they are liable for all tax on gains and you also can't use the annual €1270 allowance of the others if it's all in one persons name. You would have to have every eventuality covered if someone wants to leave the club as to how they can.

0
#3 20-09-2017 9:11am

Iamme1960

Closed Accounts Posts: 15 ✭

Join Date: September 2017

Posts: 13

Thanks for that Atlantic Dawn looks like I will need to get a model contract and consult my solicitor

0