The simplest form of a business structure is a sole trader. However, even then there are things to consider such as VAT registration and setting up a PAYE scheme. We can advise and help with these requirements and let you get on with making your business a success. If you have chosen to go into business with a friend or colleague then you will form a partnership. Similar in nature to a sole trader but you will be best served by having a partnership agreement at the outset.
As the business grows the next step might be to form a limited company. A separate legal entity in its own right, the company is far more complex. We can clearly explain what it means to run a company and outline the statutory obligations that the shareholders and directors face.
Finally, for larger or more diverse businesses, group structures play an important part to plan for tax reasons, safeguard assets or record the performance of dissimilar activities.
At Harris Bassett we have experience of all types of business operation and can advise what is most appropriate for a client’s particular circumstances. Contact Nick Bassett or David Davies.
If you would like to discuss or know more about Business Structures then please get in touch with us using the following options: