When starting a business it’s important to consider whether you are going to be a Sole-Trader, a Partnership or a Company. Many fledgling businesses opt for a Limited Company. This has many benefits but may not necessarily be what you need, so it’s worth understanding what incorporating a company really entails and what responsibilities come […]
Archive | Company Secretarial
Lasting Power of Attorney: Why you need one and how to get one
A Lasting Power of Attorney (LPA) is a legal document whereby a donor (eg. yourself) entrusts a personally selected attorney or attorneys to deal with certain personal matters once they themselves lack the capacity to do so. In this article, Lasting Power of Attorney: Why you need one and how to get one, Rob Martins […]
Wills – Why are they important for you and your business and when should you make one?
Nobody likes to think about, or plan for, their death. However, if you want to see your assets go to the people of your choice after you die, then a will is a must. Otherwise, your property will be distributed under the laws of intestacy. Generally, anyone over 18 and of sound mind can make […]
Incorporation. The big deal.
Reproduced with kind permission from Nursery Management Today March/April issue 2013 To incorporate or not to incorporate? That is the question, says Carol Cheesman, who talks readers through some of the issues you have to consider before taking – or not – the big step. You have a fledging nursery business or perhaps you’re planning […]
Lasting Power of Attorney: What is it, why should I get one and how can it save my business?
A Lasting Power of Attorney (LPA) is a legal document whereby a Donor (e.g. yourself) entrusts a personally selected Attorney or Attorneys to deal with certain personal matters once they themselves lack the capacity to do so. An LPA is a document to have if you want peace of mind, particularly if you own a […]
Obvious points people forget when setting up a company abroad
Many people decide to move abroad for personal reasons, such as a better quality of life. They dream of becoming their own boss and doing away with the relentless nine to five routine. While setting up a bar in the Bahamas with tourists sipping your famous Pina Coladas at sunset might be a nice idea, […]
What are Limited Liability Partnerships?
A Limited Liability Partnership (LLP) is a hybrid of a Partnership and a Limited Company. Only introduced in 2001, it combines limited liability with the flexibility of partnerships. An LLP has a separate legal identity so it can be more preferential than a sole trader and has the tax status of an ordinary partnership. This […]
Carol Cheesman on owner-managed businesses (video)
My name is Carol Cheesman. I’m the Senior Partner of a firm of accountants based in Islington – right opposite the Business Design Centre in Islington. We’ve been going just over twenty years. In fact we’re about to celebrate our twenty-first anniversary. We’re a little bit unusual as a firm of accountants. In that we […]
Entrepreneurs Relief
This relief allows gains made on the disposal of qualifying assets to be taxed at 10% instead of the standard rates of 18% or 28%, subject to a lifetime limit of £10 million. The relief is most commonly available to sole traders and partners selling the whole or part of their businesses and company directors […]
Striking Off a Company
The House of Commons recently passed the Enactment of Extra-Statutory Concessions Order 2012, thereby giving legislative effect to six extra-statutory concessions including Extra Statutory Concession C16 which deals with the tax treatment of distributions to shareholders when a company is struck off without a formal winding up. Under ESC C16, HM Revenue & Customs has […]