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Wise Precautions?

(3 Posts)
Orinoco Sat 11-Jun-05 23:04:54

Message withdrawn

Ladymuck Sat 11-Jun-05 23:49:40

It is possible in certain case to set up a limited liability partnership, but I can't remember the tax consequnces - from memory they are the same as for an ordinary partnership.

It's not so much the mortgae you need to worry about (which is after all a debt), but you shoudl look at transferring the assets - ie the house, any savings accounts, shares etc, if there is a risk. Get yourself a decent accountant as you prpbably will also want to look fairly carefully at what expenses are best (ie most tax-efficiently) borne by the partnership rather than by you as a family.

Orinoco Sun 12-Jun-05 20:39:52

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