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I will have a contract drawn up but what I meant was there is not any money to be paid a large sum therefore it has to be paid monthly

I agree but I have to do it on trust. There is no capital to give me a lump sum therefore I have to try and appeal to their better nature. I have never shafted him nor would I. It is either trust him or walk away with nothing other than he will take over all debts. Dont think I have a...

Some of you guys are great and the effort that some went to last time was humbling. So a couple more questions please. If my business partner/fellow Director wants to buy me out by a private agreement. I.e giving me a lump sum every month Do I have to declare it and is it taxable. Thanks...