These are complex times. How an SME should be structured to minimise risk is most important and the potential operations can either be as a sole trader, a partnership or a limited company. All have different taxation regimes and each one has pros and cons. The one with the least risk is often the limited company because as its name implies, liability is limited to the amount of initial authorised capital, which can be as little as £100. Unless there has been fraud or some other behaviour which transfers liability to shareholders, they would be exempt from any creditors claims in excess of this amount.
Corporate law offers many options. At Blackstone, we consider such options individually and advise clients individually as to the alternatives. Not only do these have financial implications, they also involve questions of disclosure of information which may or may not suit the individual SME.
We try to ensure that all our clients are fully briefed on the various structures which might be used to minimise problems and maximise profitability.
For further information ring 0161 9290121 to make an appointment, which on the first occasion, will be to explore your possibilities.
Disclaimer: This article provides general information only and does not constitute legal advice on any individual circumstances.
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