If you are forming a company in the UK, the business’s structure will shape your legal obligations. A legal service provider will advise on company formation and prepare legal documentation. Here is some basic guidance to inform your choice of legal expert.
Comprehensive company formation simply refers to the level of service you will receive from your chosen legal expert. The same steps have to be taken no matter what manner of business you are establishing, but some individuals may wish to complete parts of the process on without legal help.
No, whilst company formation services can be the establishing of a new company, it can also relate to incorporating an existing venture. If, for example, you currently operate as a sole trader, you can choose to become a limited company instead. This is when 'company formation' becomes necessary.
Legal service providers may choose to operate on a fixed fee or hourly rate basis for company formations. It may, however, be possible to reclaim some or all of the money spent on fees as a business expense. This would be done retrospectively once the company has started trading.
Aside from advising on the general process of forming a company, as well as any extra taxes or fess that must be paid regularly, A legal expert is well placed to advise on the process of forming a company, taxation matters and any complexities that a particular type of business might face. An experienced legal service provider can help you to form a company with the future in mind, avoiding any further complications as the business expands or evolves. This might include preparing a business for the addition of new shareholders, requiring shareholder agreement contracts.
It is worth considering a number of factors when choosing a legal expert to assist with company formations. You may wish to consider factors such as the location, reputation and cost of a firm before making your decision.
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Comprehensive Company Formations