Watty's Awakening

Watty1

https://forums.moneysavingexpert.com/discussion/comment/81879703#Comment_81879703

I had a meeting with her and my sense is that yes she is interested but she does not actually want to pay for it but would rather just be given it. . Well naturally that can't happen as there is a fair bit of money in the company so I actually need to sell it with the money in it which means she needs to borrow the money to buy it then repays her loan with the money she can extract at some point. This is tax efficient for her but I'm not sure she really understands and she does not have a relationship with her accountant.

My sense is she will just dither and is not a realistic prospect.

Watty1

First steps is a meeting with my major supplier to see if he will allow me to sell up with the contract in place. We had an email exchange about setting up a meeting and it is now set for Friday evening.

Slinky

https://forums.moneysavingexpert.com/discussion/comment/81880033#Comment_81880033

Can you sell her the assets of the business without selling her the limited company? That's what I did when I sold mine as there was a large cash balance still on the books. I then pulled the cash out of my company over several years as dividends until I could wind it down completely. That way they don't have to borrow the money to immediately pay it back.

Watty1

Thank you @Slinky That might be an option, will follow up on that.

Suffolk_lass

Sorry to hear that you too, are now on the two-week pathway. I don't know if it helps but I wrote down the key things that have happened, and over what timescales; also what I was told, what I have done, why I did this or that. I also asked some very specific questions in Google's AI - first to understand the scan report's technical language, then to explore possible treatment recommendations - and I followed up on the UK NHS references to read the sources of the responses I got. I took all my bits of paper with me, but found in most of the meeting, I responded spontaneously, with a lot of it in my head, having retained it. The papers were enormously reassuring though. I only said, "from what I have read in preparation for this meeting…" once, and he took it well and nodded (I could almost hear him thinking, "OK, I need to be ready for the questions here").

I think if you have the headspace, a bit of preparation means you go through the "shock" part before the meeting, and have explored several "what if" scenarios so you don't go through the stunned silence phase where you don't take in what they are saying. I do hope this helps you prepare a bit x

ladybird1106

sending virtual hugs for when you need the watty1.

Love 🐞

Watty1

That is super useful @Suffolk_lass Sort of along the lines of what I have been doing, and reassuringly I have learnt that the odds on this being serious are actually very low but I think you have collected yours in a more organised fashion so you have inspired me to collect up my thoughts and papers in one place and come up with a list of questions

Telephone appointment has been made for tomorrow morning and that will come up with next steps so not long to wait for a plan..

Watty1

In other news the new glass for the oven/microwave combi arrived and VNM fitted - and - then the microwave stopped working. After a few days of just the oven working whilst much research took place we booked an engineer call out for yesterday. Engineer rang, very negative, as the combination oven is old and he would be unlikely to get the parts. We very nearly decided not to pay the £109 call out fee but after a quick chat decided to pay him anyway to get an opinion as most things can be replaced somehow even if not with the "correct manufacturer" part.

Whilst waiting we both did a bit of online searching and VNM decided we should just buy a cheap microwave and I decided we needed a new combination oven because the space would look odd if I finally sell up.

And ….drumroll….there was a hidden fuse that had blown. Parts £2 (fuse) £109 call out. £111 and all of the functions are restored, VNM praised for excellent job on replacing glass (apparently some engineers refuse to do the glass replacement as it is so hard to do!).

The cover for the field water stopcock arrived. That has only been needed for 5 or so years - but - finally one has been purchased to replace the two bricks - and - it was the wrong size but VNM has cut it and wrapped it so it fits.

Two things dealt with - both quite cheaply as it turned out.

cheesymouse

https://forums.moneysavingexpert.com/discussion/comment/81880057#Comment_81880057

100% agree on this. It would be very unusual to sell the company. Generally the company sells the trade/goodwill and the money sits in the company for the shareholders/directors to extract as tax efficiently as they can.

Watty1

It is a very niche business, she needs the company name to continue. There are ways around this potentially but selling everything is a more attractive option for everyone.

I am working on a back up plan though.