Trading in the UK. Driven by results

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Trading in the UK. Driven by results"

Transcription

1 Trading in the UK Driven by results 1

2 A guide to trading in the UK This short guide outlines the main areas for consideration when establishing a business presence in the United Kingdom. It covers the main potential legal structures available in the UK as well as some of the key points to consider when doing business in the UK in terms of premises, employing people and intellectual property. This guide does not constitute legal advice. For tailored and detailed advice and guidance on these areas and the other specialist areas your business will require to operate in the UK, please do not hesitate to contact any member of our International Team. 2

3 How can you trade in the UK? There is no set legal structure for trading in the UK and we will assist you in selecting the most appropriate for your business intentions. The most usual options in order of formality are: Incorporating a new company Forming a partnership or, LLP Entering a Joint Venture Setting up a place of business Appointing an agent or distributor Whilst this is an important decision, it is possible to change the structure later as your circumstances change. For example, you could start by using a sales agent in the UK before incorporating a company once you have established a market presence in the UK. Different types of commercial UK companies There are a number of options when setting up a company. The most common is a company limited by shares. We find this is usually most appropriate when establishing in the UK as it has the benefit of wide ownership possibilities and its financial liability is limited. This type of company can be: Private Limited Company. There is no minimum share capital. Public Limited Company (PLC). The company must have a minimum share capital of 50,000 and shares can be bought by members of the public. Benefits of using a limited company Liability is usually restricted to the value of the shares of the company held by the shareholders, which can be as low as 1. A company is generally perceived as having a greater permanency. Profits and losses can be kept separate from the rest of your group whether in the UK or overseas. Incorporating a company To incorporate a company for you, we will require the following information from you: The proposed company name A brief description of the intended activities of the company The intended registered office address The accounting reference date or year end The share capital of the company For each director we will require: Full name Date of birth Occupation Country of residence Residential address three of the following personal details (these are needed to verify that the director is willing to act as a director) o place of birth o telephone number o mother's maiden name o eye colour 3

4 o o o father's first name passport number or national insurance number The full name of the secretary The full names of the shareholders We will prepare and file the necessary documents and typically within 1-2 days the company will be incorporated. The company s rules governing its administration are set out in the memorandum of association and articles of association. Ongoing administration A company is a more formal business entity and has ongoing requirements which include: For most companies annual accounts and reports must be sent to each shareholder and filed at Companies House. We can introduce you to accountants to prepare the accounts for you or otherwise assist. An annual return must be filed every year giving information concerning the names of directors, secretary, shareholders and the capital structure of the company. Changes in the business must be recorded and filed at Companies House. This includes the appointment of new directors/secretary, amending the company s articles of association or memorandum of association, changes to share capital and changing the company s name or registered office. The company will have statutory books that must be kept up to date and at the registered office. The name of the company must be displayed at the registered office and at every place of business, and must be in all business letters, websites, invoices, orders and other communications. 4

5 All stationery must include the company s name, its registered number, its registered office and its place of registration. Forming a partnership or LLP Partnership A partnership is where two of more legal persons (individuals or companies) work together. There are no incorporation requirements. A partnership will begin once the parties start working together. We would advise that you have a written contractual agreement in place to govern a partnership. Limited Liability Partnership An LLP is a mix of a company and a partnership. There are no directors or shareholders but it has limited financial liability and the relationship of the parties involved is contractual. The incorporation process is similar to that of a company. Establishing a branch It is possible to set up a branch office in the UK. A branch is an extension of one of your existing companies. The profits and losses of a branch will automatically belong to your company. Typically a branch will have its own identified team to represent the branches and deal with third parties in the UK. Another option is to set up what is known as a permanent establishment, which is a fixed place of business. The business can then trade from this place which of an office, a factory, a building site or a construction project. To set up a branch or permanent establishment your company must register certain details. You will be required to disclose constitutional documents, accounts and any relevant charges. Place of business It is most common to establish a place of business where your presence in the UK is currently incidental to your business as a whole or your business is structured so that it would not suit a company. A place of business is not considered to be as permanent as for a branch or company. Most overseas companies doing business in the UK will require registration as branches rather than as places of business. However, companies incorporated in parts of the UK (such as Northern Ireland and Gibraltar) will only need to register a place of business, as opposed to a branch. 5

6 Entering a Joint Venture There is no specific English Law governing joint ventures. The term can be used to describe any cooperation agreement between two (or more) parties to perform a business activity. Often we use joint ventures in research and development arrangements, such as FP7 and H20/20 projects. It is recommended to have a written agreement in place to determine each party s rights and responsibilities. Appointing an agent or distributor Often a preliminary step when entering the UK is to appoint a sales agent. The agent is appointed to seek, negotiate and conclude contracts with customers on your behalf. The arrangement can be structured so that the sales contract is made between you and the customer or that the agent buys the products and sells these on to the customer. The second arrangement is often described as a distribution or reseller arrangement. We would recommend that the arrangement is governed by a written contract. Agency arrangements have particular legal obligations, such as possible payments on termination. Legal advice should be obtained before appointing an agent as agency laws are complex. 6

7 Commercial premises Property in the UK can be secured by way of a purchase of either the freehold or a long leasehold interest in property. Alternatively, you may lease a property on a shorter fixed term basis which will mean you pay a rent (quarterly or monthly) which is based on market conditions at the time. At the end of the term of the lease you can either negotiate for a renewed lease or leave the property, depending upon your commercial and practical needs. You should always take legal advice when entering into a short term lease arrangement (and, indeed, when you purchase property by way of a long lease or a freehold) as the law surrounding property can be complex and tenants can be asked to take on some fairly onerous responsibilities - we can advise and negotiate on your behalf to ensure the arrangements are as advantageous as possible. We will also advise on the registration of your lease (as appropriate). The purchase or lease of property could attract Stamp Duty Land Tax liability and we will advise you on any duty payable and assist you with completing and submitting the return. With regard to shorter term leases it is not uncommon for tenants to be asked to provide some security for the payment of rent, particularly if the tenant does not have a UK trading record. This can be by way of a deposit of a sum of money which will be held by the Landlord as security and which can be drawn from if the tenant has not paid his rent or has committed some other breach of the terms of the lease. As mentioned above, the law of property interests in the UK is extremely complicated and tenants and buyers of property are always strongly advised to take legal advice before entering into any arrangements. The earlier a buyer or tenant appoints a lawyer, the better. 7

8 Employment When starting to trade, you are likely to need staff. Under English law employees have legal rights which include: You are required to give every employee a written statement setting out the terms of their employment There is a national minimum wage which depends on the age of the employee. There can be a limit to how long an employee can work in a week There are requirements as to providing pensions for employees You must pay statutory sick pay in certain circumstances All workers are entitled to a minimum amount of paid holiday leave There are leave periods for parents and carers Employees have protection of their employment There are flexibility requirements There are anti-discrimination laws In the UK there is also the option of engaging consultants to perform services. Typically this is in areas such as IT and accounting. Consultancy agreements can be more flexible and can avoid many of the requirements of employees but need to be carefully entered into. 8

9 Commercial issues Standard terms and conditions Most businesses operate under their own standard terms and conditions. There are few restrictions on what can be included in standard terms and conditions and common issues relate to payment terms, delivery terms and limitations on financial and other liability. There are also extra rules when trading on-line and selling to individual consumers. It is quite normal to have different terms when you are buying goods and services and when you are selling goods and services. There are rules about which party s terms apply to a relationship. You will need to take care to ensure your terms apply. It is possible to retain ownership of products sold, allowing you to enter your customer s premises and take back goods which have not been paid for. This is called retention of title and is common in supply contracts. Incoterms are recognised and widely used in international commercial contracts. Importing Customers in the UK expect to contract subject to English law and jurisdiction. Credit checks It is easy and quite normal to conduct credit checks and searches on customers. 9

10 Intellectual property Intellectual property rights are territorial and you will need to protect your IP within the UK. The main intellectual property rights recognised in the UK are: Copyright this prevents another from copying the work in question. Protection in the UK arises automatically and usually lasts for 70 years from the death of the creator. Patents in order for an invention to be patentable, it has to be new, involve an inventive step and be capable of industrial exploitation. Patent protection must be applied for and gives the owner up to a 20 year monopoly to exploit the invention. Patent protection can be secured under a European Patent. Design right a right that prevents the copying of the appearance of a product. Unregistered Design Rights are not protected for as long as a Registered Design Right. Registered Design Rights have up to 25 years protection. The UK recognises Community Unregistered Design Rights and Community Registered Designs. Trade marks can be registered or unregistered. Registration gives the right to stop others using a trade mark in connection with a particular class of goods or services. Registered trade marks are also easier to enforce than unregistered trade marks. Protection in the UK can be obtained by registration either just in the UK or as part of an EU Community trade mark. English law gives rights based on use of a mark, and not which party is first to file. 10

11 The International Team Jeremy Shulman Head of International Services Direct Line: Mobile: Dawn Carlisle Commercial Property & Portfolio Management Direct Line: Mobile: Rob Lucas Head of Intellectual Property Direct Line: Mobile: Jim Wright Employment Direct Line: Mobile: Maria Fert Commercial Property Direct Line: Shulmans LLP 10 Wellington Place Leeds LS1 4AP 11

A Guide to Trading in the UK. more than just lawyers

A Guide to Trading in the UK. more than just lawyers A Guide to Trading in the UK more than just lawyers 1 international an exemplary reputation for providing high-end corporate advice to national and clients - Chambers 2 About Michelmores Michelmores is

More information

Doing business in Hong Kong

Doing business in Hong Kong I. INTRODUCTION Doing business in Hong Kong Tim Drew Partner timdrew@robertwang.com Karen Yan Associate karenyan@robertwang.com Robert Wang Solicitors 1 On 1 July 1997, sovereignty over Hong Kong transferred

More information

BUYING UK PROPERTY A brief guide to buying property in the UK

BUYING UK PROPERTY A brief guide to buying property in the UK BUYING UK PROPERTY A brief guide to buying property in the UK This publication is not meant as a substitute for advice on particular issues and action should not be taken on the basis of the information

More information

The Companies Act 1862-1900. Private Company Limited by Guarantee and not. having a Share Capital. Memorandum of Association. Children North East

The Companies Act 1862-1900. Private Company Limited by Guarantee and not. having a Share Capital. Memorandum of Association. Children North East The Companies Act 1862-1900 Private Company Limited by Guarantee and not having a Share Capital Memorandum of Association of Children North East As amended by special resolution dated 11 July 2007 1. Name

More information

A brief guide to buying a residential property at auction Stephen Firmin

A brief guide to buying a residential property at auction Stephen Firmin SOLICITORS for IndIvIduaLS and business tsplegal.com A brief guide to buying a residential property at auction Stephen Firmin Colchester T 01206 574431 Stable 6 Stable Road Colchester Essex CO2 7GL info@tsplegal.com

More information

ADVICE NOTE BUYING AND SELLING YOUR FLAT. A summary of the typical events when buying and selling a leasehold flat

ADVICE NOTE BUYING AND SELLING YOUR FLAT. A summary of the typical events when buying and selling a leasehold flat ADVICE NOTE BUYING AND SELLING YOUR FLAT A summary of the typical events when buying and selling a leasehold flat 2 CONTENTS Note: As the leading trade body for residential leasehold management, ARMA is

More information

Buy-to-let guide about tax

Buy-to-let guide about tax Perrys Chartered Accountants Buy-to-let guide about tax Introduction As a buy-to-let landlord it is important you know about tax and how it affects you and your investment. This is why Perrys Chartered

More information

A GUIDE TO PROPERTY PURCHASE IN THE UK

A GUIDE TO PROPERTY PURCHASE IN THE UK A GUIDE TO PROPERTY PURCHASE IN THE UK SALES I LETTINGS I PROPERTY MANAGEMENT ARCHITECTURE I DEVELOPMENT I CONSULTATION I INVESTMENT I VALUATIONS COMMERCIAL I PROJECT MANAGEMENT If you live abroad and

More information

Application for a Limited Company

Application for a Limited Company Application for a Limited Company to be sent to us by email to caroline@centrum-uk.com with originals by post to BC Business Centrum Limited 788-790 Finchley Road London NW11 7TJ UK COMPANY APPLICATION

More information

STANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LIMITED

STANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LIMITED This document is issued by Standard Life Investments Property Income Trust Limited (the "Company") and is made available by Standard Life Investments (Corporate Funds) Limited (the AIFM ) solely in order

More information

Home Purchase Plan Premier. Product information. alrayanbank.co.uk

Home Purchase Plan Premier. Product information. alrayanbank.co.uk Home Purchase Plan Premier Product information alrayanbank.co.uk Understanding your needs The Home Purchase Plan Premier (HPPP) from Al Rayan Bank (formerly Islamic Bank of Britain, IBB) helps you buy

More information

Conveyancing Jargon Buster

Conveyancing Jargon Buster Conveyancing Jargon Buster Agreement - another word for contract Auction - This is where a property is bought at an auction house. Once the gavel goes down contracts are exchanged (see Exchange of Contracts

More information

USEFUL GUIDE LEASEHOLD PROPERTY PURCHASE

USEFUL GUIDE LEASEHOLD PROPERTY PURCHASE USEFUL GUIDE LEASEHOLD PROPERTY PURCHASE Buying a leasehold house or flat can be a stressful experience. Here at Mundays, our property team is one of the most experienced you ll find, and we ll do all

More information

enoch evans LLP to our services

enoch evans LLP to our services enoch evans LLP Solicitors YOUR GUIDE to our services Enoch Evans LLP is a law firm with offices in Walsall, having over 40 Lawyers and in excess of 65 members of staff. The central location allows the

More information

Heslop & Platt Solicitors Limited

Heslop & Platt Solicitors Limited TERMS OF BUSINESS Heslop & Platt Solicitors Limited 1. Introduction and Definitions 1.1 In these terms of business, the following words and phrases have the following meanings: Initial Client Letter Client

More information

RESIDENTIAL LANDLORDS TAX INFORMATION

RESIDENTIAL LANDLORDS TAX INFORMATION RESIDENTIAL LANDLORDS TAX INFORMATION The following notes are intended to provide a useful background for investors buying and letting individual residential properties. Independent advice, tailored to

More information

Guide to buying and selling your home

Guide to buying and selling your home Guide to buying and selling your home Whether you are thinking of buying, selling or re-mortgaging your home it pays to contact your solicitors at an early stage. Hopefully you ll find the contents of

More information

A guide to investing. Appendix 11 Protecting your business intellectual property rights

A guide to investing. Appendix 11 Protecting your business intellectual property rights A guide to investing in Wales Appendix 11 Protecting your business intellectual property rights August 2013 Appendix 11 Protecting your business intellectual property rights Intellectual property rights

More information

Contracting in Ireland

Contracting in Ireland This guide answers all your questions in relation to contracting in Ireland and overseas. Imelda Prendergast, Partner, OSK Contracting T: 01 439 4206. E: prendergasti@osk.ie Contents 1. Advantages & Disadvantages

More information

LICENCE FOR EMPLOYMENT APPLICATION. means Eversheds LLP whose registered office is at One Wood Street, London EC2V 7WS.

LICENCE FOR EMPLOYMENT APPLICATION. means Eversheds LLP whose registered office is at One Wood Street, London EC2V 7WS. LICENCE FOR EMPLOYMENT APPLICATION 1. DEFINITIONS Eversheds Licensee Application Intellectual Property Rights Use means Eversheds LLP whose registered office is at One Wood Street, London EC2V 7WS. means:

More information

Family law. www.leedsday.co.uk. Providing intelligent legal solutions Providing intelligent legal solutions Providing intelligent legal solutions

Family law. www.leedsday.co.uk. Providing intelligent legal solutions Providing intelligent legal solutions Providing intelligent legal solutions Family law The Family team at Leeds Day understands that Family and Matrimonial matters require more than just keen negotiating skills and technical excellence. We never lose sight of the real issues that

More information

Your Guide to Starting and Building a Residential Property Portfolio

Your Guide to Starting and Building a Residential Property Portfolio Your Guide to Starting and Building a Residential Property Portfolio Kirwans is regulated by the Solicitors Regulation Authority No: 71723. VAT No: 595 5994 62 Kirwans is one of the North West s most forward

More information

PURCHASE AND LEASING OF REAL PROPERTY IN THE UNITED STATES

PURCHASE AND LEASING OF REAL PROPERTY IN THE UNITED STATES PURCHASE AND LEASING OF REAL PROPERTY IN THE UNITED STATES A. INTRODUCTION By David L. Berkey, Partner Gallet Dreyer & Berkey, LLP Attorneys at Law New York City, USA The purchase and/or leasing of real

More information

Office of the Regulator of Community Interest Companies: Introduction and guidance notes. Chapter 3: Limited Companies NOVEMBER 2012

Office of the Regulator of Community Interest Companies: Introduction and guidance notes. Chapter 3: Limited Companies NOVEMBER 2012 Office of the Regulator of Community Interest Companies: Introduction and guidance notes Chapter 3: Limited Companies NOVEMBER 2012 Contents 3.1. Community interest companies - limited liability companies...

More information

Buying retirement housing

Buying retirement housing Factsheet 2 April 2014 About this factsheet This factsheet provides information for people who are considering buying retirement housing. It covers management of retirement schemes, what services may be

More information

RESIDENTIAL LANDLORDS TAX INFORMATION

RESIDENTIAL LANDLORDS TAX INFORMATION RESIDENTIAL LANDLORDS TAX INFORMATION The following notes are intended to provide a useful background for investors buying and letting individual residential properties. Independent advice, tailored to

More information

Our. For You. print. Legal. home. close. Services. For Your Business. click here to enter

Our. For You. print. Legal. home. close. Services. For Your Business. click here to enter Our Legal r Business click here to enter Car crashes Motorcycle claims Pedestrian injuries Accidents at work Fatal Accidents Accidents in public places Accidents abroad Trips and slips Claim again facility

More information

Starting up in the UK

Starting up in the UK Starting up in the UK A guide to establishing a presence in the UK an Inward Investment Team publication 2 CONTENTS INTRODUCTION 4 KEY ISSUES FOR OVERSEAS BUSINESSES SETTING UP IN THE UK - Corporate structure

More information

GUIDE TO INVESTING IN LONDON PROPERTY

GUIDE TO INVESTING IN LONDON PROPERTY LAWS AND REGULATIONS Nature of Ownership There are two types of land ownership in London; freehold and leasehold. The freeholder owns the land (in some cases including the sub-soil below the land, the

More information

new-build homebuy South Staffordshire Housing Association

new-build homebuy South Staffordshire Housing Association new-build homebuy South Staffordshire Housing Association What is new build HomeBuy? New build HomeBuy, also widely known as shared ownership, is a government-funded scheme to help first-time buyers buy

More information

Property, Stock and Business Agents Regulation 2014

Property, Stock and Business Agents Regulation 2014 New South Wales Property, Stock and Business Agents Regulation 2014 under the Property, Stock and Business Agents Act 2002 [If this Regulation is made, the following enacting formula will be included:]

More information

Sale & Purchase of Business Checklist

Sale & Purchase of Business Checklist Conditional Dates: Due Diligence - # Finance - # Settlement Date: # Critical dates entered in Task List/Diary? Yes/No Time Task Instructions/Results Action Parties Identity of the Seller(s). Is there more

More information

Our Home Reversion Plan. Enjoy your retirement by unlocking the value of your home

Our Home Reversion Plan. Enjoy your retirement by unlocking the value of your home Our Home Reversion Plan Enjoy your retirement by unlocking the value of your home I can now have the garden I ve always wanted. 1 Bridgewater Equity Release Limited the Home Reversion Plan experts Bridgewater

More information

Diageo plc. Postal Share Dealing Service

Diageo plc. Postal Share Dealing Service Diageo plc Postal Share Dealing Service In Association with STOCKTRADE A Division of Brewin Dolphin Securities Ltd Authorised and Regulated by the Financial Services Authority Please note that the share

More information

Service Charge Loans 1 Policy

Service Charge Loans 1 Policy Service Charge Loans 1 Policy 1. Introduction 1.1 This policy establishes Medway Council Housing Services (the council s) criteria and approach to administering the Mandatory and Discretionary Service

More information

Individual Document http://www.compactlaw.co.uk/limited-liability-partnership-agreement.html

Individual Document http://www.compactlaw.co.uk/limited-liability-partnership-agreement.html This is a sample not the full document Buy the full document in Word format. Select from the following options: Individual Document http://www.compactlaw.co.uk/limited-liability-partnership-agreement.html

More information

Creative Industries Workshop Key IPR Issues

Creative Industries Workshop Key IPR Issues THE INSTITUTE OF BUSINESS ADVISERS LONDON BRANCH Creative Industries Workshop Key IPR Issues Dr Rosanna Cooper, Principal, RT Coopers Telfords Yard, 6/8 The Highway London, E1W 2BS Tel: +44 207 488 2985

More information

Self Managed Super Fund (SMSF) Limited Recourse Loans

Self Managed Super Fund (SMSF) Limited Recourse Loans Self Managed Super Fund (SMSF) Limited Recourse Loans Memorandum Have you been searching for someone you can trust to assist with arranging both the finance and legal structure that accompanies limited

More information

Home Purchase Plan. Product information. alrayanbank.co.uk

Home Purchase Plan. Product information. alrayanbank.co.uk Home Purchase Plan Product information alrayanbank.co.uk Sharia compliant, flexible, aordable home finance Unlike a conventional mortgage where the purchaser borrows money from a lender which is then repaid

More information

Legal and practical issues dealing with Agents in the UK from the perspective of a Dutch Principal

Legal and practical issues dealing with Agents in the UK from the perspective of a Dutch Principal Legal and practical issues dealing with Agents in the UK from the perspective of a Dutch Principal What is an agent? For these purposes considering only a "Commercial Agent". "a Commercial Agent is a self-employed

More information

Buying or Setting up a Small Business

Buying or Setting up a Small Business Buying or Setting up a Small Business Legal Guide 2 0 1 5 NEW PLYMOUTH 1 Dawson Street Private Bag 2013 Phone (06) 768-3700 Fax (06) 768-3701 INGLEWOOD 92 Rata Street PO Box 28 Phone (06) 756-8118 Fax

More information

CONSENT TO LET APPLICATION FORM

CONSENT TO LET APPLICATION FORM CONSENT TO LET APPLICATION FORM To allow us to consider your request please send us the fully completed consent to let application form. IMPORTANT INFORMATION If consent is granted you will be charged

More information

Dental Buyer s Guide. Dental Buyer s Guide

Dental Buyer s Guide. Dental Buyer s Guide What you need to know Contents Buying practices Who will own and run the practice? Sole practitioner Partnership and Expense sharing Corporate bodies The NHS Contract Associate Agreements Other employment

More information

New City Investment Manager (NCIM) ISA Application Form

New City Investment Manager (NCIM) ISA Application Form New City Investment Manager (NCIM) ISA Application Form SECTION 1 Personal Details This application will relate to the Tax Year commencing 6 April 20 and to any subsequent consecutive tax years in which

More information

How to set up a company in South Africa

How to set up a company in South Africa How to set up a company in South Africa Business entities and registration procedures The most common business entities in South Africa are: 1. Companies 2. Close corporations 3. Partnerships and sole

More information

New Zealand Residential Property Sale and Purchase Agreement Guide. This guide has been prepared and approved by the Real Estate Agents Authority

New Zealand Residential Property Sale and Purchase Agreement Guide. This guide has been prepared and approved by the Real Estate Agents Authority New Zealand Residential Property Sale and Purchase Agreement Guide This guide has been prepared and approved by the Real Estate Agents Authority RESIDENTIAL PROPERTY SALE AND PURCHASE AGREEMENTS GUIDE

More information

General Mortgage Conditions for England and Wales

General Mortgage Conditions for England and Wales You can order all our publications in large print, Braille, audio cassette or CD. Your local branch will arrange this for you or you can contact us on 08457 30 20 10. If you have hearing or speech difficulties

More information

Residential Property

Residential Property Residential Property Glossary of terms The conveyancing process is unfortunately full of legal jargon, so we have produced this glossary to help you if you come across something you do not understand.

More information

Guidance Booklet Charity Incorporation Made Simple

Guidance Booklet Charity Incorporation Made Simple Guidance Booklet Charity Incorporation Made Simple *berwin leighton paisner Contents What is an incorporated charity? 1 What are the key features of an incorporated charity? 2 What is an unincorporated

More information

Stamp Duty Land Tax: reform of structure, rates and thresholds for non-residential land transactions. Guidance Published 16 March 2016

Stamp Duty Land Tax: reform of structure, rates and thresholds for non-residential land transactions. Guidance Published 16 March 2016 Stamp Duty Land Tax: reform of structure, rates and thresholds for non-residential land transactions Guidance Published 16 March 2016 1 Contents Page Chapter 1 Introduction 3 Chapter 2 The main changes

More information

Have you heard about Open Market HomeBuy?

Have you heard about Open Market HomeBuy? Have you heard about Open Market HomeBuy? A guide to buying a home on the open market using an equity loan Contents What is Open Market HomeBuy? 3 Who is eligible for the scheme? 4 How does Open Market

More information

TUPE Regulations Staff contracts when you buy or sell a practice Advice Note 20

TUPE Regulations Staff contracts when you buy or sell a practice Advice Note 20 Advice TUPE Regulations Staff contracts when you buy or sell a practice Advice Note 20 The Transfer of Undertakings (Protection of Employment) Regulations 2006 (known as TUPE ) provide legal protection

More information

A helpful guide for first home buyers. Westpac KiwiSaver Scheme First Home Purchase Withdrawal

A helpful guide for first home buyers. Westpac KiwiSaver Scheme First Home Purchase Withdrawal A helpful guide for first home buyers. Westpac KiwiSaver Scheme First Home Purchase Withdrawal BT Funds Management (NZ) Limited is the scheme provider and Westpac New Zealand Limited is the distributor

More information

Corporate Legal Alert

Corporate Legal Alert Corporate Legal Alert Trading disclosures for companies: more new rules On 1 October 2008, UK companies will be subject to revised trading disclosure requirements under the Companies Act 2006 and the Companies

More information

NSW Retail Tenant s Guide

NSW Retail Tenant s Guide NSW Retail Tenant s Guide This guide will help tenants understand the key aspects of leasing a retail shop. The landlord must give a prospective tenant this guide as soon as they start negotiating a lease.

More information

Flat Management Companies

Flat Management Companies October 2006 Flat Management Companies A DTI SERVICE Contents Introduction... 02 1 Do you need a company?... 03 2 Statutory accounts... 09 3 Accounting records and statutory accounts - a worked example...

More information

TECHNICAL RELEASE TECH 09/14BL ACCOUNTANTS REPORTS ON COMMERCIAL PROPERTY SERVICE CHARGE ACCOUNTS

TECHNICAL RELEASE TECH 09/14BL ACCOUNTANTS REPORTS ON COMMERCIAL PROPERTY SERVICE CHARGE ACCOUNTS TECHNICAL RELEASE TECH 09/14BL ACCOUNTANTS REPORTS ON COMMERCIAL PROPERTY SERVICE CHARGE ACCOUNTS ABOUT ICAEW ICAEW is a professional membership organisation, supporting over 140,000 chartered accountants

More information

Investment Dealing Account. Corporate Application form for advised clients only

Investment Dealing Account. Corporate Application form for advised clients only Investment Dealing Account Corporate Application form for advised clients only How to complete this form Your adviser can also apply on your behalf for an Investment Dealing Account online at www.alliancetrustsavings.co.uk/adviser

More information

Words defined in the Trading Platform Terms and Conditions have the same meaning in this Acceptance form. The same rules of interpretation apply.

Words defined in the Trading Platform Terms and Conditions have the same meaning in this Acceptance form. The same rules of interpretation apply. Acceptance form for Black People This Acceptance form is part of the Welkom Yizani Trading Platform Terms Conditions. If you want to trade on the Welkom Yizani trading platform, you must sign this document

More information

Intellectual Property

Intellectual Property Intellectual Property Protection Helpsheet When running a business you need to consider protecting your intellectual property which could be anything from your logo to inventions, products and designs.

More information

The Chartered Tax Adviser Examination

The Chartered Tax Adviser Examination The Chartered Tax Adviser Examination November 2014 Taxation of Individuals Advisory Paper TIME ALLOWED 3 ¼ HOURS The first 15 minutes is designated as reading time. During this time you may read your

More information

Buy To Let Purchase Plan. Product information. alrayanbank.co.uk

Buy To Let Purchase Plan. Product information. alrayanbank.co.uk Buy To Let Purchase Plan Product information alrayanbank.co.uk Sharia compliant, flexible, aordable property finance Unlike a conventional mortgage where the purchaser borrows money from a lender which

More information

Self-Help Kit. Limited Company. Guidance Manual. The contents of this Manual have been approved by H M Williams Chartered Accountants

Self-Help Kit. Limited Company. Guidance Manual. The contents of this Manual have been approved by H M Williams Chartered Accountants Self-Help Kit Limited Company Guidance Manual The contents of this Manual have been approved by H M Williams Chartered Accountants 3 How to use this Kit This Lawpack Kit can help you achieve an important

More information

In practice, foreigners usually establish LLCs. Partnerships and joint stock companies are only established in exceptional cases.

In practice, foreigners usually establish LLCs. Partnerships and joint stock companies are only established in exceptional cases. Company Laws The Companies Law is the principal body of legislation governing companies. Saudi company law recognizes eight forms of companies. The most common forms are limited liability companies (LLC),

More information

A Guide to. Small Self Administered Pension Schemes (SSAS)

A Guide to. Small Self Administered Pension Schemes (SSAS) A Guide to Small Self Administered Pension Schemes (SSAS) Prepared by: John Hebblethwaite APFS CFP cm MIoD FRSA Certified Chartered Financial Planner Managing Director April 2014 Contents Introduction...

More information

DOING BUSINESS IN THE UK

DOING BUSINESS IN THE UK INTERNATIONAL THE COMPLETE GUIDE TO DOING BUSINESS IN THE UK 1 Doing Business in the UK +44 (0)207 305 5692 www.shoosmiths.co.uk INTRODUCTION The United Kingdom remains a key location for companies with

More information

Business leases guide

Business leases guide Business leases guide BUSINESS LEASES GUIDE Contents What is a business "tenancy"? Creation of a tenancy Common terms in lease Repairing liability FRI terms Landlord's covenants Insurance Tenant's continuing

More information

PROPERTY MANAGEMENT AGREEMENT [HEREINAFTER REFERRED TO AS. hereby appoint QUADRANT PROPERTY MANAGEMENT LTD

PROPERTY MANAGEMENT AGREEMENT [HEREINAFTER REFERRED TO AS. hereby appoint QUADRANT PROPERTY MANAGEMENT LTD Quadrant PROPERTY MANAGEMENT LTD Kennedy House 115 Hammersmith Road London W14 0QH Telephone 020-7386 8800 Facsimile 020-7386 0440 e-mail: managers@quadman.co.uk website: www.quadrantpm.co.uk Your Ref

More information

GUIDE TO INVESTING IN UK RESIDENTIAL PROPERTY

GUIDE TO INVESTING IN UK RESIDENTIAL PROPERTY GUIDE TO INVESTING IN UK RESIDENTIAL PROPERTY 1 0 Ownership options Direct foreign ownership of UK properties is permitted under UK law. There are two main interests by which property can be held. Freehold

More information

Doing Business in the UK: A Preliminary Guide for the Entrepreneur

Doing Business in the UK: A Preliminary Guide for the Entrepreneur Doing Business in the UK: A Preliminary Guide for the Entrepreneur Jeffrey Green Russell Waverley House 7-12 Noel Street London W1F 8GQ www.jgrweb.com Tel: + 44 (0) 20 7339 7000 Fax: + 44 (0) 20 7339 7001

More information

The Comprehensive Service

The Comprehensive Service The Comprehensive Service At PML Accounting Limited, we understand that business affairs need to be dealt with efficiently and effectively, so we have developed a specialist accounting service specifically

More information

RIGHT TO ACQUIRE PROCEDURES

RIGHT TO ACQUIRE PROCEDURES RIGHT TO ACQUIRE PROCEDURES The Right to Acquire was introduced by the 1996 Housing Act and is effectively the right to buy as a condition of Social Housing Grant funding. The Right to Buy rules apply

More information

2008 No. 495 COMPANIES. The Companies (Trading Disclosures) Regulations 2008

2008 No. 495 COMPANIES. The Companies (Trading Disclosures) Regulations 2008 STATUTORY INSTRUMENTS 2008 No. 495 COMPANIES The Companies (Trading Disclosures) Regulations 2008 Made - - - - 23rd February 2008 Coming into force - - 1st October 2008 The Secretary of State makes the

More information

A GUIDE TO DOING BUSINESS IN NIGERIA

A GUIDE TO DOING BUSINESS IN NIGERIA A GUIDE TO DOING BUSINESS IN NIGERIA Copyright Abraham & Co. CONTENT Page Forms of Business Enterprise 3 Registration of a Company and Application for 5 Start-up Approvals The Tax System 8 Checklist for

More information

The Comprehensive Service

The Comprehensive Service The Comprehensive Service At PML Accounting Ltd, we understand that business affairs need to be dealt with efficiently and effectively. Therefore, we have utilised and further developed a specialist accounting

More information

Very Smart People. www.mms.co.uk. August 2013. Evaluating Flood Risk: Buyers and Lenders. www.mms.co.uk

Very Smart People. www.mms.co.uk. August 2013. Evaluating Flood Risk: Buyers and Lenders. www.mms.co.uk Very Smart People www.mms.co.uk August 2013 Evaluating Flood Risk: Buyers and Lenders www.mms.co.uk Index What is the concern? 1 Availability of Flood Insurance 1 Types of flooding 2 Flood risk assessment

More information

Insuring your business

Insuring your business Insuring your business A guide for business operators in South Australia www.statedevelopment.sa.gov.au/smallbusiness Table of Contents 01 Overview... 3 02 Principals of insurance... 4 03 Types of insurance...

More information

Residential mortgages general information

Residential mortgages general information Residential mortgages general information Residential mortgages general information 2 Contents Who we are and what we do 2 Forms of security 2 Representative Example 2 Indication of possible further costs

More information

ROYAL MAIL GROUP ADDRESS MANAGEMENT UNIT PAF DIRECT END USER LICENCE

ROYAL MAIL GROUP ADDRESS MANAGEMENT UNIT PAF DIRECT END USER LICENCE ROYAL MAIL GROUP ADDRESS MANAGEMENT UNIT PAF DIRECT END USER LICENCE Introduction This licence permits the use of PAF Data by an end user. Details of other licences available for the use of PAF Data can

More information

Due Diligence Request List: IP and IT

Due Diligence Request List: IP and IT PLC Intellectual Property & Technology An intellectual property (IP) and information technology (IT) due diligence request list for use in connection with an M&A transaction. This request list is designed

More information

Chapter 2. Companies Legislations

Chapter 2. Companies Legislations Chapter 2 Companies Legislations 2.1 The principal legislations in Malaysia are as follows:- Registration of Businesses Act 1956; Partnership Act 1961; The Companies Act, 1965 governs the establishment

More information

Foort Tayler Terms of business for probate and wills

Foort Tayler Terms of business for probate and wills Foort Tayler Terms of business for probate and wills We have prepared this document to make our terms and conditions of business as clear and understandable as possible, and to anticipate, as best we can,

More information

Information Index. Clear and concise factsheets on business and personal issues. Starting up in business. Personal tax.

Information Index. Clear and concise factsheets on business and personal issues. Starting up in business. Personal tax. Information Index Clear and concise factsheets on business and personal issues Starting up in business Business Plans Business Structure - Which Should I Use? Could I Really make a Go of it? Insuring Your

More information

Due Diligence Process

Due Diligence Process Due Diligence Process Steps involved in legal due diligence Issues Introduction to Due Diligence Description Due diligence is a process of thorough and objective examination that is undertaken before corporate

More information

Introduction. The Expatriate Financial Guide for UK Expatriates Working Overseas

Introduction. The Expatriate Financial Guide for UK Expatriates Working Overseas Introduction The Expatriate Financial Guide for UK Expatriates Working Overseas An individual who is considering a move from the UK in order to work overseas will need to take into account a number of

More information

Your guide to a stress-free house purchase

Your guide to a stress-free house purchase Your guide to a stress-free house purchase Welcome 2014 Preliminary Contract Local and other searches Enquiries Fixtures and fittings Moving house can be a stressful experience, so let us guide you through

More information

Commercial Property Buying Property in Your Pension Fund

Commercial Property Buying Property in Your Pension Fund 1 The aim of these notes is to assist in purchasing, letting or selling properties, to ensure the transaction is handled correctly and any pitfalls are avoided. Please read these notes, ensure you understand

More information

What does it mean? A Glossary of terms. Home Ownership Fact Sheet. Housing Programs Department of Housing and Public Works

What does it mean? A Glossary of terms. Home Ownership Fact Sheet. Housing Programs Department of Housing and Public Works Home Ownership Fact Sheet What does it mean? A Glossary of terms There are many words that are specific to property buyers, sellers and lenders. This list is designed to explain some of these words which

More information

Introduction 1. Accommodation 2. Safety and Household Furnishings 3. Responsibilities 4. Taxation 5. Insurance 6. Rental 7.

Introduction 1. Accommodation 2. Safety and Household Furnishings 3. Responsibilities 4. Taxation 5. Insurance 6. Rental 7. Contents Introduction 1 Accommodation 2 Safety and Household Furnishings 3 Responsibilities 4 Taxation 5 Insurance 6 Rental 7 Managing Agents 8 Tenancy Agreement 9 Agreement 10 Marketing 11 Letting and

More information

Please ensure all pages of this form have been completed in BLOCK CAPITALS see checklist on the last page.

Please ensure all pages of this form have been completed in BLOCK CAPITALS see checklist on the last page. V23 24 Nov. 14 Stock Transfer form Please ensure all pages of this form have been completed in BLOCK CAPITALS see checklist on the last page. If you make any mistakes whilst completing this form, please

More information

Commercial Mortgage Application Form

Commercial Mortgage Application Form Aldermore 1st Floor, Block B Western House Lynch Wood PETERBOROUGH PE2 6FZ t 01733 404500 f 0800 0664429 e info@aldermore.co.uk w aldermore.co.uk Commercial Mortgage Application Form Intermediary details

More information

Solicitors for property advice

Solicitors for property advice Solicitors for property advice As specialists in property law, Millbank Solicitors provide expert legal advice whether you are buying or selling your property, remortgaging or involved in a property dispute.

More information

LANDLORD AGENT AGREEMENT

LANDLORD AGENT AGREEMENT INVESTMENT SALES: LETTINGS: MANAGEMENT: MAINTENANCE & DEVELOPMENT LANDLORD AGENT AGREEMENT Thank you for instructing Atterway Ltd. to act on your behalf in marketing your property for rental. Accordingly,

More information

Business Debtline www.businessdebtline.org 0800 0838 018

Business Debtline www.businessdebtline.org 0800 0838 018 BUSINESS DEBTLINE Business Debtline www.businessdebtline.org 0800 0838 018 DEALING WITH DEBTS OF A LIMITED COMPANY FACT SHEET NO. 5 NORTHERN IRELAND This fact sheet gives information about private limited

More information

2.2 It is important for the Purchaser to be sure of the identity of the Purchaser and to convey this to the Estate Agent.

2.2 It is important for the Purchaser to be sure of the identity of the Purchaser and to convey this to the Estate Agent. 1. INTRODUCTION 1.1 Buying a home is probably one of the biggest financial decisions a person can make during their lifetime and unfortunately this big decision is made with very little formal guidance

More information

CITY OF LONDON LAW SOCIETY LAND LAW COMMITTEE FORM OF RENT DEPOSIT DEED

CITY OF LONDON LAW SOCIETY LAND LAW COMMITTEE FORM OF RENT DEPOSIT DEED CITY OF LONDON LAW SOCIETY LAND LAW COMMITTEE FORM OF RENT DEPOSIT DEED The rent deposit deed is a ubiquitous document in the landlord and tenant arena. Its usage may well be increased by difficult economic

More information

Non UK Residents UK Limited Liability Partnership

Non UK Residents UK Limited Liability Partnership Non UK Residents UK Limited Liability Partnership The international package includes: Company set-up UK Registered Office Address (which includes mail forwarding) UK company bank account with debit and/or

More information

SHARED OWNERSHIP LEASES. What is shared ownership leasehold and how does it work?

SHARED OWNERSHIP LEASES. What is shared ownership leasehold and how does it work? SHARED OWNERSHIP LEASES What is shared ownership leasehold and how does it work? Contents Purpose of this leaflet... 3 What is leasehold... 3 What is a shared ownership lease... 3 What are the differences

More information

Setting up a company.11 10 _000691_ NB

Setting up a company.11 10 _000691_ NB Setting up a company Contents Overview... 03 Who forms the company... 03 Shares and shareholders... 03 Directors... 04 Secretary... 04 Auditors... 05 Name of company... 06 Articles of association and memorandum

More information