![]() Some people worry about the idea of giving or taking advice from friends, neighbours and family.In last week’s article we looked in detail at the legal status of investment clubs, and amateur investment advice in general. You do have to tell HMRC when you set up a club. So most clubs just operate as informal partnerships.It would be possible to incorporate a club as a limited company or limited partnership, but this would involve more paperwork for few advantages.It doesn’t have any special legal status, but the government (especially the HMRC) has accepted ways of dealing with a club. This if often because 20 members is the most that a stockbroker will accept onto the same trading account.There’s no official limit to the number of members in a club, but most tend to have 20 or less. ![]() As defined by the government, an investment club is a group of people that buys and sells shares together on the stock market.
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