Can a commercial solicitor advise me on the formation of my company?

 

There are several options when forming a new company structure, not least whether to actually form a registered company with Companies House, or whether to opt for a Limited Liability Partnership.

This decision will have significant consequences for the way your business trades, and is worth considering carefully.

Factors which will influence your business will include:

  • Records and accounts you will need to keep and file
  • Tax and National Insurance contributions you will need to pay to Her Majesty’s Revenue and Customs
  • Financial liabilities you are likely to face

A commercial solicitor will be aware of the latest rules relating to all these matters and more, and can tailor their advice to suit the make-up of your new enterprise and the markets within which you intend to operate.

Important factors in the formation of a company

If you do decide to form a limited liability company there are several considerations to be made.

These include business naming, submission of the correct documents, and drafting those documents to best reflect how you wish the company to operate. This can be a difficult decision in itself, and it can be useful to have a commercial solicitor advising you on the most appropriate way to do this.

Your company will need to have shareholders, may choose to name a company secretary, and must decide how to operate and file accounts and tax returns. Registration for VAT and issues concerning employees are also within the remit of a good commercial solicitor.

In addition to helping with the formation of the business, it can also be useful to have a commercial solicitor to hand who can be contacted in the event that you encounter problems later on. Knowing your business is a vital first step to providing timely and inexpensive legal advice to any company. 

Contact Law works with commercial solicitors throughout the UK - call us on 0800 1777 162 or fill in the web-form opposite to talk to one of our advisors.

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