0161 491 3933 info@jmrsolicitors.co.uk

JMR Solicitors

Integrity with Professionalism

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JMR Solicitors for your Business
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Incorporation & Business Development

With setting up a business it is essential to have a good working knowledge of business law and strict attention to detail, so seeking professional assistance is vital. JMR Solicitors have the experience and knowledge to guide you through the process and alleviate the stress from the process.

What are the benefits of incorporating a business?

Incorporating your business may give you some protection should your business fail. As a sole trader, you would be personally liable for the debts should your business fail, potentially putting yourself in danger of bankruptcy if the debts owed are considerable enough and you are unable to make repayments. Being a limited company offers some protection against this, as legally a limited company is a separate entity and therefore its finances are separate from the finances of its owners.
As a director of a limited company, your risk of loss is restricted to the money that you have invested in the company itself, providing you don’t trade fraudulently or recklessly. However, please note that you will still be liable for bank loans if you have provided personal guarantees for the limited company.
Being a private limited company may also make you more credible to potential clients, customers, investors or partners.

What you need for setting up a limited company:

There are some ready-made limited company names available to purchase, however, if you wish to form a new limited company you must submit a memorandum of association, articles of association and a IN01 form to Companies House.
JMR Solicitors can help you to complete these applications and draft your memorandum of association and articles of association on your behalf, as these cannot be supplied by Companies House.

What are the responsibilities of a company director?

A private limited company must have at least one appointed director. The director must be over the age of 16 and must not have been disqualified from acting as a limited company director or be an un-discharged bankrupt.
Directors are responsible for notifying Companies House of any changes in the management or structure of the company. All accounts must be filed with Companies House each year, ahead of the requested date, or a fine will be payable. Accounts must also be audited annually unless the company is exempt from this. HM Revenue and Customs must be informed of any taxable incomes or profits by way of an annual return, after which, corporation tax will be payable.
Directors are employees of the company so, therefore, must pay class 1 national insurance contributions and income tax.

Summary
Incorporating a Business
Service Type
Incorporating a Business
Provider Name
JMR Solicitors,
More House, 429 Chester Road,Old Trafford ,Manchester-M16 9HA,
Telephone No.0161 491 3933
Area
Manchester and Cheshire
Description
Incorporating your business may give you some protection should your business fail. JMR Solicitors can help give your business protection by helping set up a Limited Company.

Business Contracts Topics

  • Shareholder Agreements
  • Incorporation & Business Development
  • Confidentiality Agreements
  • Employment Agreements
  • Partnership Agreements / Joint Ventures
  • Buying or Selling a Business

Why Choose Us?

We are a well-recognised, local and reputable law firm based in Manchester.

We handle a wide range of cases and strive to provide 100% unique and tailored advice to every one of our clients. We are personable, professional and have a team that will always be in your corner. Contact us today

Review for JMR Solicitors

I used JMR to help with a spousal visa application for my wife, and I am very pleased with them. They helped to make a very complex and risky application as simple as possible, and were extremely thorough in checking the documents I provided. They were always happy to answer any questions I had and gave prompt and detailed replies. The friendly staff of JMR gave my wife and I peace of mind with our successful visa application. Joe Polshaw

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    0161 491 3933

    info@jmrsolicitors.co.uk


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