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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 10104
Experience:  30 years as a practising solicitor.
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I have separated from my co-habiting fiance after nearly 9

Customer Question

I have separated from my co-habiting fiance after nearly 9 years together.
We are also business partners in a business that is in it's 3rd year and it's first profitable year. I do all the work and manage it as it's in the industry I was employed in before going self employed.
I don't want him as a business partner anymore as it was initially forced upon me by him, he dealt with the accountant. What will I be liable for if I go ahead with removing him as a partner? He says he's due expenses.
Also he started a business during the period we were together and I was not included in this at all as he didn't discuss any of it with me. How do I stand with this business? Do I have a claim on it?
Submitted: 10 months ago.
Category: Scots Law
Expert:  JGM replied 10 months ago.
Thank you for your question.
Is the business run as a partnership or a limited company? Is there a shareholder's agreement or a partnership agreement?
What is the nature of the business?
Customer: replied 10 months ago.
Hello,
The business is run as a partnership and as far as I'm aware there is no partnership agreement. I didn't sign anything.It is a marketing consultancy.
Expert:  JGM replied 10 months ago.
The partnership would be treated separately from the separation. In terms of the partnership legislation you can give notice of dissolution and his interest in the business would be the amount of his capital account as determined by the accountant as at the date of dissolution. His capital account will be as shown in the last set of accounts plus his profit share to the date of dissolution less his drawings and liability to tax. Happy to discuss further.

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