Mr and Mrs

I have just been approached to act on behalf of a new client. It seems straightforward but I have a niggling feeling that there may be some problems and would be grateful for any general advice: forewarned is forearmed so to speak.

The client is in employment and has a business idea that he thinks he can run in his spare time. There will be some ‘running around’; calls to make progress chasing and other administrative work. However my client tells me that his wife is currently only (his words not mine) employed part time and has agreed to do this work for him.

He plans to open a bank account and make an initial deposit of £20 000 to fund the business. This is an amount he says he is ‘prepared to lose’ if it doesn’t work out. He intends to take his...