Corporate & Commercial Law for clients in Sussex including Brighton, Uckfield and Seaford
England and Wales remain among the easiest places in Europe to set up and run a business. However, with a mass of law – domestic and European – it’s not always straightforward.
Each stage of a business requires different legal input, from initial start up, through developing, safeguarding and restructuring, to eventual sale or succession.
Starting From Scratch
Setting up a business is an exciting challenge. Understandably, new entrepreneurs want to focus on ideas and planning. Meanwhile, Rix & Kay can help with nuts-and-bolts advice such as choosing the most appropriate trading structure – sole trader, partnership or limited company.
Rix & Kay can also help put the necessary agreements, policies and procedures in place – protecting interests as the business expands. These might include:
- trading terms and conditions
- franchise, supply and marketing agreements
- intellectual property and trademark protection
- partnership and shareholder agreements
If hiring staff, be wary that there’s a huge volume of domestic and European law that affects virtually every aspect of their employment, from hiring to retiring. See Employment Law.
Here’s One We Made Earlier
Sometimes, the best way into business is to buy an existing company. The benefits include: a proven idea, established supplier and customer bases, and the fact that someone else has borne much of the initial financial risk.
Rix & Kay can provide the purchaser with professional support at every stage from initial enquiry, through to negotiation and making the formal offer, to purchase and eventual completion. This might include:
- providing evidence to potential lenders,
- conducting due diligence checks,
- dealing with terms and conditions of sale, the transfer of property, contracts, licences and finance
Growing or selling a business
Moving On Up...
Eventually, the business may simply outgrow its original set-up. Rix & Kay can advise on the best way ahead, whether merger, acquisition or entering into a joint venture.
...And Out
There may come a time when the business owner wants to move on to pursue other business or personal interests. Planning early for an eventual succession by a family member or helping employees put together an MBO (management buyout) allows a smooth and orderly transition, without compromising business performance.
Inheritance tax planning can also be built into long-term strategy; ensuring that chosen beneficiaries, not the Treasury, enjoy the rewards.
If planning to sell the business, Rix & Kay can advise on tax, National Insurance and employment implications, along with any statutory procedures that need to be completed. This is particularly relevant if the business has been trading as a limited liability partnership or company.
Rix & Kay can also help with managing any capital gains tax (CGT) liabilities. For example, by using the proceeds to buy another business and deferring the gain through business asset roll-over relief.
