Legal Advice

**J20x** · 02-25-2008 03:18 PM

Hi there,

I'm 16 and I live in the United Kingdom. I'm extremely motivated and my life has become business orientated, but I do get a lot of questions regarding my age and problems with banks and trading. I attend a private school and I currently make £120,000+ per year from the internet alone. I've initiated in a few partnerships and I'm hoping to start a few companies where my cash flow will be directed in order to sell my businesses and organization etc. Apparently, I don't need a VAT number but I will still get taxed on my profits regarding business accounts and I've been rejected by a bank already despite my portfolio. I was advised that I wont be taken seriously as a trader until I'm 18, but with my current income I want to start investing in businesses as soon as I can.
Does anyone have any reccomendations, advice or etc.?

Regards.

**J20x** · 02-25-2008 03:21 PM

I've tried sitting down with a few books but there is so much to read, I have 15 projects running at the moment and I hardly find the time to study. I have not consulted a book-keeper, broker, accountant or anything similar yet -I thought I'd perhaps have a go at YE first.

**BusinessAdviser** · 02-25-2008 03:54 PM

You'll likely need to speak with an attorney familiar with English law. Also, I'm curious to know what it is that you do exactly to make 120,000+ pounds per year.

**GuyBBY** · 02-25-2008 07:28 PM

Hi,

That's great, I too am interested in what you do. For your question, I would take a chance throwing a PM to akula, he seems to field alot of the cash related/projection/financial planning questions on here.

Best,

G

**printchemist** · 02-25-2008 07:38 PM

Wow, Its nice to see that your so young and making so much money.

**J20x** · 02-26-2008 02:26 PM

Regarding Jmenq's suggestion, I'm meeting an attorney on saturday. Regarding everyones curiosity, I take advantage of internet opportunities although the majority of my income comes from other businesses I own equity in.

**topoftheheap** · 02-26-2008 04:54 PM

Sounds like you've done well. How did you purchase all of the equity within a year unless your parents have money?

**J20x** · 02-27-2008 01:17 PM

Originally Posted by topoftheheap

Sounds like you've done well. How did you purchase all of the equity within a year unless your parents have money?

Appreciation for all the PM's and suggestions. Topoftheheap, none of the equity was purchased. I built a foundation of contacts for a couple of years and I started taking into management struggling or low-income internet and related businesses, transforming them in return for equity. It's a long story really.