Company set up and formation
Most companies are limited by shares and are known as "private limited companies". Shares are issued and directors appointed by the shareholders. The limited company is a separate legal entity and the shareholders have limited liability so if the company fails, there can be no claim upon the assets of the shareholders (beyond their original investment).
As a sole trader or non-limited business, personal assets can be at risk. Private limited companies and their directors are governed by the Companies Act 2006 which brought significant changes to company law.
Alternatives to the private limited company are a company limited by guarantee (usually relevant to clubs or associations), the public limited company (Plc) which has minimum share capital requirements and is often publicly listed, or partnerships which form when two or more people come together in business to share profit and loss.
Working alongside tax advisers and accountants, we can advise upon the most appropriate form of business or company formation. We can prepare and advise upon all relevant documents including shareholders agreements, guarantee or loan agreements, partnership agreements and joint venture agreements.
Contact our Company Commercial Department on 020 7420 7020 or enquiry@sethlovis.co.uk.