Just wanting to pick the brains of those in business with someone else.
I have two businesses, one which I have run solely for over 8 years and another which I have with another guy, which we have had for coming up to 3 years.
I've just done a bit of an audit on the expenses for the company and it 'appears' that my business partner has been, basically taking the p*ss!
His mileage expenses are ridiculous, he puts through the entire cost of land line rather than the work calls (over a year it comes to over £500!), and worst of all it looks like he's been using our company money to fund another company of his.
We also employ his wife for a grand a month to do the books, and in my opinion she can only do about 2 or 3 days a month at best!
My quandary is that I stand to make a load of money from the other company in a couple of years time when it is sold, however, in the meantime I don't think it is right that he is syphoning funds from our company to pay for the other especially when I am bringing all of the money into the company and have yet to receive any income from it.
I'm guessing we would also owe the tax man a fair wedge as well rather than it being 'expenses'.
I figure he owes our company about ten grand.
Anyone else dealt with such issues?
