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Syndicate Investment
bobandsandra
Posts: 10 Forumite
OK Here's the story.
Myself & 3 colleagues have been in a lottery syndicate since the lottery started many years ago and although we have put in more than we have won we now have quite a few hundred pounds in winnings. We bought £350 in premium bonds some years ago but have not had a win(Surprise surprise) As the interest rate has recently gone down on premium bonds decreasing the likelyhood of a win we have decided to cash them in and invest some winnings into something a bit more risky. We need a certain amount as "float" to keep the thing running if anyone is late paying their dues etc. and so have decided to allocate £100 each into an "investment fund" investing into whatever we think is going to make us a profit at the time and see just how much we can make our original investment grow.
So immediately many questions enter my head.
How do you invest money as a syndicate as opposed to an individual?
Where would be a good place to start?
I thought instant growth in the many free cashback offers highlighted on this site would be a good start but can you do that as a syndicate?
What are the tax implications? All of us are self employed 22% tax payers.
All thoughts/suggestions would be very welcome.
Myself & 3 colleagues have been in a lottery syndicate since the lottery started many years ago and although we have put in more than we have won we now have quite a few hundred pounds in winnings. We bought £350 in premium bonds some years ago but have not had a win(Surprise surprise) As the interest rate has recently gone down on premium bonds decreasing the likelyhood of a win we have decided to cash them in and invest some winnings into something a bit more risky. We need a certain amount as "float" to keep the thing running if anyone is late paying their dues etc. and so have decided to allocate £100 each into an "investment fund" investing into whatever we think is going to make us a profit at the time and see just how much we can make our original investment grow.
So immediately many questions enter my head.
How do you invest money as a syndicate as opposed to an individual?
Where would be a good place to start?
I thought instant growth in the many free cashback offers highlighted on this site would be a good start but can you do that as a syndicate?
What are the tax implications? All of us are self employed 22% tax payers.
All thoughts/suggestions would be very welcome.
:rotfl::rotfl: :j :j 87.2% of all statistics are made up on the spot:j :j :rotfl: :rotfl:
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