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Partners opening a Hair Salon
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worby10
Posts: 5 Forumite
Hi All, this is my first post on here and hoping you may be able to give me some advise. My husbands been a self employed hairdresser for the last ten years. We would now like to set up our own salon and wondering whats best when it comes to sole trader or partnership as I'm in full time employment (basic tax payer). I would like to be an equal partner but wondering if this would cost more in the long run with regards to paying tax etc. I'm not planning on paying myself from the business and any profit will be put back into the business. Any thoughts?
Thanks,
James
Thanks,
James
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