Indeed, my wording was not correct - I was trying to keep the post concise while conveying as much information as I could. The scheme I am refering to is outlined here: https://www.mygov.scot/business-rates-relief/renewable-energy-generation... and you can find application forms on Council websites.
From speaking to other generators, seems quite common for small projects to be granted this relief on a recurring basis with a charitable donation of say 5-8% of gross. Discussion with those involved has led me to believe that this was due to the large debts the companies incurred when building the projects, the repayments on which tip them over the <15% profit donation threshold. It seems that we may be in a worse position to make use of this relief than other developers who would be procuring our services as part of their build process.
We wish to enact a complex profit share arrangement which would change over time. We also need to be able to adjust each members profit share based upon their final contributions to the project and it seems to us that an LLP is more suited to this.
I'm aware that there are issues in certain circumstances but it seems to me that this example would not be one of those. This is because each member is active in their particular field of consultancy/manufactuing with lots of other clients and therefore the LLP would just be another client.
Assuming this were acceptable, would such invoices be considered liabilities?
My answers
Thanks for your response.
Indeed, my wording was not correct - I was trying to keep the post concise while conveying as much information as I could. The scheme I am refering to is outlined here: https://www.mygov.scot/business-rates-relief/renewable-energy-generation... and you can find application forms on Council websites.
From speaking to other generators, seems quite common for small projects to be granted this relief on a recurring basis with a charitable donation of say 5-8% of gross. Discussion with those involved has led me to believe that this was due to the large debts the companies incurred when building the projects, the repayments on which tip them over the <15% profit donation threshold. It seems that we may be in a worse position to make use of this relief than other developers who would be procuring our services as part of their build process.
We wish to enact a complex profit share arrangement which would change over time. We also need to be able to adjust each members profit share based upon their final contributions to the project and it seems to us that an LLP is more suited to this.
I'm aware that there are issues in certain circumstances but it seems to me that this example would not be one of those. This is because each member is active in their particular field of consultancy/manufactuing with lots of other clients and therefore the LLP would just be another client.
Assuming this were acceptable, would such invoices be considered liabilities?