When setting up a business, you have many matters to consider. One of which is deciding whether to trade as an unincorporated business or to incorporate your company.
There are many ways in which you can structure a business such as a sole trader, partnership, limited liability partnership (LLP) and limited company. Each option will have its advantages and disadvantages, and so it is worthwhile taking some time to talk to us and be confident in your decision for now and in the future.
Changes to your business structure
When your business grows and/or changes in any way, the most appropriate structure and entity of the business may change too. This could include changes such as an incorporation, a takeover, disposal or other reorganisations.
Business changes and reorganisations occur for many different reasons. The primary driver is usually to meet the objectives of the business owner, but tax efficiency is always an important consideration too.
Some examples where tax is likely to create an impact include the following:
Splitting the business
Changing your share structure in any way – this may be bringing in more shareholders or changing the class and terms of the shares
Transferring assets to a company
Creating a group of companies
Acquiring or selling a subsidiary
Buying out a shareholder
Disposal; including a gift, exchange or sale.
What we can do for you
We provide clear, practical advice to ensure your business is set up, and grows in the most tax effective way possible. Our support includes:
Choosing the right structure
Helping you decide whether sole trader, partnership, LLP or limited company is best for your goals, risk profile, and tax position.
Incorporation and registration
Assisting with company formation, HMRC registrations, VAT, PAYE, and Companies House compliance.
Reviewing and reorganising structures
Advising on restructuring to improve tax efficiency and support future objectives.
Tax-efficient planning
Ensuring your structure maximises reliefs, allowances and minimises exposure to unnecessary tax liabilities.
Shareholder and partnership arrangements
Reviewing or drafting shareholdings, partnership agreements, and share classes to align with your long-term strategy.
Succession and exit planning
Designing structures that prepare your business for future sale, succession or expansion, while protecting personal and corporate wealth.
Compliance and ongoing support
Monitoring changes in tax legislation and staying in touch regularly to keep your business compliant.
Ready to get started on your business structure?
We have a simple five-step process to guide you through this new venture.
1
Initial consultation
We begin by discussing your business goals and long-term plans, including your business changes and development goals. This helps us understand how you’re best suited to structure your business.
2
Assessment & recommendations
We review the various tax implications and comparisons.
3
Implementation
Once your plan is decided upon, we handle the tax aspects.
4
Introduction of external professionals
Our strong network of collaborators are on hand to assist you in any other matters of business structuring you may need.
5
Support during transitions
If you’re undergoing changes to your business structure, we’ll provide detailed guidance, work alongside your legal advisors, and ensure compliance throughout the process.
Get in touch
If you’re ready to get your most tax efficient business structure and want expert tax and accounting guidance every step of the way, let’s get started.
