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Help with business partnership hell!
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My husband has had a business for many years and I reluctantly joined his company as a partner in the middle of last year, for tax purposes so he could pay less tax by ‘offsetting’ some monies to me. We have now decided our marriage isn’t working and we are separating. I told him yesterday we need to see the accountant so I can come off the partnership. His reply was that he’d already saw the accountant last week and took my name off and has in effect ‘closed the company down’ as he is going over to Limited. I asked him how could he take me off as I hadn’t signed anything and his reply was that I didn’t need to as effectively if there is no ‘him (enter his name here)’, then there is no business.
Is this correct? Can he really take me out of the business, close it down and change to Ltd without me signing anything as a partner?