I wanted to create a pie with some stocks with a monthly deposit on it but the money will be added from 5 friends and will be about 250 per month. The deposit will be done through my card and bank account as it’s my account.
My question is:
Does anyone knows if this money that I will receive every month from them to my bank account, will be considered as “income” or any other suspicious transactions and I get in trouble? Also regarding taxes will be there any problem? This will be on investment account and not ISA as it doesn’t have some of the stocks we wanted to invest.
I hope I explained it well and I could appreciate your thoughts on this.
Wouldn’t it be better to invite them all here and have their own account? Sounds like it could get very messy.
Have an account each, start a Telegram group with your mates and discuss what to add to your pie and what percentages etc then update your own to whatever was agreed if you all want exactly the same.
I have put forward the idea of shared pies where you can create keepers of the pie, make it public/private. Subscribe to it so one change is reflected across all. etc for 2020
Invite them all and get the free shares and keep your money separate. Money can ruin all relationships. Watch Judge Rinder to see that. If you’re going to go ahead with it write up a contract please. But highly advise you don’t
for 2020