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what should i do about the lease on the business
Isthis the lease of a building or a lease of some equipment?
It isa partnership or a limited company?
I needthe full background as to how you come to leave and how he "took the businessoff you"
its a lease of a building the business is a cafe its a partnership i left in 2009 because the business was not doing well and i gave my business partner a letter to take me off the lease which i thought he had done. his daughter wants me to sign the cafe over to her but i dont feel comfortable doing this has there will be outstanding debts. the partnership was 75 per cent me and 25 per him in ownership of the lease
I amconfused as to why she wants you to sign your 75% over and it concerns you ifyou thought you already did that. Surely she is just asking you to do what youthought you already did
yes she is but im concerned about any tax that will be owed and its still in my name so im going to get a bill that i shouldnt have so if i sign it over no im going to be left with a tax bill for the last 4 yrs
I willtransfer this to UK tax because it is not to do with the transfer of thebusiness it seems just about your tax liability. Is that correct?
yes it is thanku