Just a question on shares.
I have spent 18 months working with major investor with an idea that I went to them with. My idea, they set up few company and . they offered me 10% sharehold and employee role as operations director.
However now our first site is due to open they have told me my sharehold was based on an EMI 10% on million I told them I didn't want shares based on an emi contract as there was no security and they could essentially sack me at any point so now they have offered me shares. Saying I can have £50,000 shares now and £50,000 in a year. But that there are major tax implications and I will have to pay a big tax bill. They said it might be better if I invoice them £50,000 plus vat and then pay for shares myself rather than them gifting them to me??? So confused !!!! They also said they had now raised two million so my share was 2.5%
I don't understand the whole thing. I completely know I should have agreed this earlier and sorted an agreement now I'm completely panicked about the whole thing.
I'm relatively young and inexperienced and the investors are multi millionaires.
Any advice would be great Tia x
I have spent 18 months working with major investor with an idea that I went to them with. My idea, they set up few company and . they offered me 10% sharehold and employee role as operations director.
However now our first site is due to open they have told me my sharehold was based on an EMI 10% on million I told them I didn't want shares based on an emi contract as there was no security and they could essentially sack me at any point so now they have offered me shares. Saying I can have £50,000 shares now and £50,000 in a year. But that there are major tax implications and I will have to pay a big tax bill. They said it might be better if I invoice them £50,000 plus vat and then pay for shares myself rather than them gifting them to me??? So confused !!!! They also said they had now raised two million so my share was 2.5%
I don't understand the whole thing. I completely know I should have agreed this earlier and sorted an agreement now I'm completely panicked about the whole thing.
I'm relatively young and inexperienced and the investors are multi millionaires.
Any advice would be great Tia x