There is never a more exciting time than buying a Business, promoting a new idea and/or starting a new venture.
Part of the journey is ensuring that any new venture is run profitably and that includes compliance with all legal requirements, for example with the Companies Acts.
We can assist you with this and with your administration and duties. We can help you with deciding what the legal structure of your Business should be – should you transfer your partnership into a limited company and gain a tax advantage with loan accounts created for the shareholders which then can be repaid free of tax? Or are there other tax efficient vehicles that work better for your business?
Whatever your circumstances, we will work with you to help mitigate risk and ensure that your business is operating tax efficiently.
Terms and Conditions of Business
If you are a manufacturer or supplier then you need to be sure your customers will pay you.
We can assist in making your Terms and Conditions as water tight as possible, and ensure that you are in the strongest position to enforce their terms.
We can discuss different scenarios and damage limitation in an insolvency situation with you.
Finance
We are very experienced in dealing with commercial finance and understand that this is a common method of funding a particular deal. There is very little cash around these days and if there is any, we will carry out the necessary checks to ensure that it is not suspect.
- Banks will lend commercial finance but often have strict requirements that accompany this
- We do our utmost to co-operate with the lenders so that funds are released and the deal is transacted in a timely manner
- Invoice Discounting is one example. It enables you to have your invoice paid earlier than the customer might otherwise pay which allows your overdraft, if necessary, to be lower rather than higher
- Banks will generally support you if you have a proper Business plan and they may not always require collateral but may instead request personal guarantees
Partnership and Shareholder Agreements
It is advisable and sensible for partners and shareholders to have an agreement which regulates how your business is run.
We will work with you to prepare a bespoke set of rules that is right for you, taking into consideration your business needs and wider strategy.
Our team based in Rochdale and Bury are highly experienced in drafting and negotiating these types of agreements and can help prepare the right documents for your business.
Call us on 01706 653322 for our Rochdale office, 0161 763 1000 for our Bury office or email us at [email protected]
