Starting up as a sole trader in partners name

Jillanddy

Andy_L said:

The OP's husband is installing electro-mechanical devices (stairlifts) - done incorrectly that could start a house fire.

Quite. And we are also talking about people with disabilities - any mobility aid that fails to function correctly could put them at serious risk. 

I have to be honest and say that, speaking as a disabled person (and also an intelligent one who checks out suppliers, reads paperwork etc) this proposed set up would make me run a mile. What happens to my guarantees of work etc when the business stops trading? A sole trader whose name isn't even on the record? I'd rather pay more money for the confidence in an established company with a track record and a higher level of confidence that the whole thing wouldn't blow up in my face - figuratively or literally.

Savvy_Sue

There's another fairly fundamental flaw in this plan: the OP's partner's current terms of employment, which may require him to have his employer's permission before trading on the side, especially if it's in the same line of work.

Marcon

OP - this seems to have become needlessly complicated. Setting up a limited company, with appropriate insurances in place, will protect both your assets and the interests of your customers.

Child maintenance is assessed on the basis of the paying parent's income, so surely all you need to do is split the income from your new limited company unequally, by taking differing levels of directors' fees (no minimum wage applies unless a director also has a contract of employment which makes them a worker for the company), and/or having different shareholdings with different levels of dividends? Provided you are both genuinely working for the business in one way or another, there should be no issues with HMRC.

As SS has said above, you do need to check that setting up a new business doesn't conflict with current terms of employment for either of you.

oh_really

The op seems to have abandoned the thread if not the premise.