I am starting a new business, how can you help?
Yes. We can advise you from the start, including what legal form your business will take whether it be a sole trader, partnership or a limited company.
What business name should I chose?
You need to choose a name that is different from others in the same line of business. If your name misleads customers into thinking they are dealing with a different business then legal action could arise, which could be costly. You also need to make sure that your name does not infringe on any existing registered trademark or trading name.
Our business is expanding, how can you help?
We can assist in the purchase or leasing of new premises, asset purchases and commercial contracts and agreements.
I run a family business and so my business legal requirements cross over with my personal legal needs – can you deal seamlessly with both?
We offer advice from family matters, wills and probate to conveyancing and if your circumstances take a turn for the worst we can also assist in criminal matters.
What are the advantages and disadvantages of becoming a limited company?
The main advantage is that the liability of the members of the company will be limited to the value of their shares. The Directors are not normally personally liable unless they have given personal guarantees or have breached certain duties.
The disadvantage to operating as a company is the law procedure and other formalities which must be followed, the restrictions on certain financial activities, and the requirement to publish and file accounts.
I haven’t officially set up a business as a sole trader, partnership or limited company – how will this affect me?
You are legally required to notify HM Customs and Revenue when you do so, therefore if you have not officially set a business you will still be trading as a sole trader or a partnership and will likely face a fine.
As you have not formed a company then you will liable for any business debts and if you are in business with another person then under the Partnership Act you will be trading as a partnership and you will be liable for their business debts. We can assist in drawing up a partnership agreement.
Walker Solicitors is a trade name of Walker Solicitors Ltd. Registered in England (Company No: 9608224). Registered office: 206a-212 Stafford Street, Walsall WS2 8DW. A list of members is available for inspection at this office. We use the word ‘partner’ to refer to a member of the company or an employee or consultant who is a solicitor with equivalent standing and qualification.