There are a number of options available when deciding what structure to use for your business.  Most businesses take the form of either:

• a sole trader
• partnership
• limited liability company
• limited liability partnership

Trading as a limited liability company or limited liability partnership has the advantage of limiting individual personal liability, but involves a greater level of ongoing administration.

Tax

You should also consider obtaining taxation advice from an accountant regarding the different taxation systems that relate to the respective business structures - as this may influence your choice of structure.

How we can help

We can advise you in detail of the legal advantages and disadvantages associated with each of the business structures and help you decide which is the most suitable structure for your business.  We can also deal with the formation requirements of limited liability companies and limited liability partnerships for you. 

If you decide to trade in partnership or set up a limited liability company or limited liability partnership then you will also need to consider whether you need a partnership agreement, shareholders' agreement or limited liability partnership agreement.

Contact us now

For further information or to arrange an appointment contact a member of the corporate team on 0115 9 100 200 or email corporate@actons.co.uk or fill in the contact form below.