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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

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19-09-2017 7:45pm

#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

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investment club

savings club

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#2 19-09-2017 11:29pm
Atlantic Dawn

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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.

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#3 20-09-2017 10:11am
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

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