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A Shareholders’ Agreement is a vital legal document that can provide a solid foundation for your business, not only by documenting agreed-upon terms but also by helping to avoid disputes and facilitating their resolution if they arise.
In this article, Ashley Gurr, commercial and contract lawyer at LawBite, delves into the key components that a well-drafted Shareholders’ Agreement.
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For many self-employed business owners, a welcome increase in annual earnings may also hold important financial questions with regards to their tax liability and tax efficiency.
Despite the advantages of operating as a sole trader, you may quickly realise that the tax costs of sole trading may outweigh its simplified benefits.
In our new guide, we explain why it may be essential to consider incorporating your business as a limited company when your business revenue starts to grow.
When incorporating your business for the first time you will get acquainted with the terms, ‘director’ and ‘shareholder’. Similar as they may seem, these two roles set different responsibilities between the company managers and its owners.
In this guide, we will explain the primary distinctions between the company’s shareholders and its directors.
It is quite common for business owners to personally accrue pre-trading business expenses prior to when their company was formed. You will normally incur these costs while operating as a sole trader.
In this guide, we will explain how pre-trading expenses can be reclaimed once your company is formed.
Back in 2012, the Government, along with the Start-Up Loans Company introduced a new initiative called The Start-Up Loans program.
The plan was to encourage entrepreneurship in the UK and provide easier access to financing for new businesses.
In this guide, we’ll explain how the Start-Up Loans Program works, what are the eligibility requirements for new UK businesses, what is needed for your application process, and how to appeal if your application is rejected.
When it comes to starting your own business, one of the many decisions you need to make is what legal structure the business will take.
Typically, a new business owner will need to decide between a sole trader and limited company business. There are other alternatives, but let’s stick to the more frequently used.
When deciding upon the structure you need to consider not only the reporting requirements of the structure but also your own strengths and weaknesses and commitment to running your new venture.
Whilst there can seem a lot of responsibility associated with running a limited company, it is important to remember that all of these administrative tasks can be taken care of safely and with minimal hassle for you.
As your business operation and finances begin to grow, you could find that trading as an individual might not be the most tax-efficient option for you to continue with.
If you are considering starting a new limited company, here’s what’s involved and how our Company Set-up team at Clever Formations can help.
Whether you are a freelancer, contractor or operate as a local small business, your business and financial needs may require a different type of banking service. If your personal bank account provider cannot offer the level of service you need to run your finances as smoothly and efficiently as you can, it is time to explore better options.
Starting your own company can be both challenging and exciting at the same time. Whether you intend to remain a one-person business or plan to become an employer, you will be your own boss and as such hold the liberty to determine your business objectives.
That is why, it is crucial to lay out a business plan so that you can focus on your key targets, ensuring every new assignment you undertake is moving you closer to your goals.
Need an accountant?
Clever Accounts offers fixed-fee online accountancy support for contractors, freelancers and limited companies. Dedicated accountants, online accounting software and 15 years expertise in the market makes us the perfect choice.