I have invested on the stock market myself for the last 7 years. Started whilst a univeristy.
Now I am a qualified accountant and a family friend has offered my £5k to invest on thier behalf.
Problem is, I am not a qualifed financal adviser and I am aware their are very strict rules around investing other peoples money and offering financal advise. I dont believe I am legally qualified to do so even as an accountant.
However, one way around this problem, I believe may be to set up as a company where they put the money in as a shareholder and I as a just a diector. This way I am not offering them financal advise as the company is seperate legal entity.
Problem is, from what I can garther they would be tax twice. Capital gains tax + tax on a dividend if they ever extracted the money.
Anyone know how I can do this in a legally + low tax way?
Seems like a lot of messying around for £5k. but I dont want to say no!!!!