I am interested in creating a company, for various reasons. I know that they can be done fairly cheaply via certain websites such as ClearDoc etc, however i do have a few additional questions so if someone could point me in the right direction...
1. Do companies pay their 30% tax no matter what? IE - if the money is just sitting in a bank account will the interest get taxed 30%?
If so i am better of building up a larger capital base first as my tax bracket is not yet above that being a student and all
2. Is there any difference having joint owners of a co rather than single owners?
3. Following on from 2, can the owners continue to contribute into the company after it has been formed? (cant see why not its just more 'shares' issued). So i put in 6k and my partner 4k, the ownership stake would then be 60/40% and then would adjust as either of us contributed more. Is this correct?
4. If the worst was to happen and my partner and i seperated, we would only be entitled to whatever % of the company we owned? Or could you try to claim/sue for more?
Thats about it for now, im sure there are a few accountants out there who can help