I have a restaurant partnership client. The partners and husband and wife. The husband wants to walk away from the business and go back to being a small farmer in China where he still has lots of family. The wife wants her elder son to take over from her husband. The husband does not seem bothered about being paid the amount on his capital account and the son has no money of his own. From a tax perspective, what could possibly go wrong?
19th Nov 2013
1
Disillusioned restaurateur
Disillusioned restaurateur