We have legal expertise in certain niche areas including: Contracts for employment status and Shareholder aggreements.

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We are primarily a Chartered Accountancy, Chartered Tax Advisory and Audit registered business.

However, we do have legal expertise in certain niche areas, in particular in relation to the following:

  • contracts for services/employment status contracts
  • shareholder agreements
  • purchase/sale agreements for businesses
  • tax analysis in relation to trusts and estates

For any other legal matters, we will refer you to one of our preferred specialist suppliers

When it comes to setting up corporate structures there are a variety of considerations to bear in mind. There are both commercial and tax implications that need to be considered. The adage that the tax tail should not wag the commercial dog is very true in these situations. However, one of the main commercial considerations in determining the best structure for the business is actually to consider the tax implications, as they will have a big impact on the financials for the business.

Setting up a Limited company:

A Limited company structure provides important protection due to the "limited liability" characteristic of companies. By being a Limited liability company it means that the shareholders are protected from loss of their own personal assets. Another advantage of Limited company status is the current favourable taxation treatment of companies compared with sole traders/individuals. Some problems inherent with a Limited liability structure include that the structure is rather rigid in that incoming or exiting shareholders will have various implications for the business - and there will be taxation implications on the disposal of shares or "company buy back" of shares.

Limited Liability Partnerships:

Limited liability partnerships allow for greater flexibility in that profits sharing ratios can be changed dependant on private agreements of the Partners. The main constituational document of the partnership will be the partnership agreement. This will control the way in which the partnership interacts and behaves with its members and the way in which business is conducted by the partnership. An LLP is tax transparent and therefore the taxation of the profits of the partnership fall onto the "members" of the LLP.

There are a variety of benefits in setting up a corporate group structure - either at the inception of the business or at a future point in time. We have advised many clients on the benefits of setting up a corporate structure such that they can benefit from important tax reliefs such as Substantial Shareholders' exemption on a disposal of part of the business. It is important to liaise with us in advance of making any important decisions as there will often be certain ways of carrying out transactions that will be more beneficial from a taxation perspective.

Please contact your usual MG Group contact if you would like to find out more about the options available in setting up a business structure and to determine what the advantages and disadvantages are from each type of business structure.

We have assisted many clients over the years with considerations and negotiations in relation to the sale/purchase of their business trade & assets or shares. There are various implications on both the purchase and/or sale of a business, and the advice on which structure and option is best will, of course, depend on the fact pattern of each situation. We adopt a highly specialised process for going through the options and ensuring that all considerations and fact patterns/information is analysed and reviewed before making a final decision and before providing our advice.

We work in conjunction with solicitors to assist in advising on the best way to structure the deals - we can advise on the legal and tax implications of the arrangements to ensure that a fully considered decision is made by management involved.

We can assist in detailing good areas for negotiation and assisting in putting forward the case/information in the best possible light for our client.

A shareholder agreement is a key document that determines the legal relationship and interaction between shareholders in a company. We can advise on drawing up such a contract, and can also assist with the review of a document to ensure that all the key points that should be addressed are covered by the agreement.

We provide a fully comprehensive list of company secretarial type services. These include the following:

Maintaining the company registers - including share registers, share certificates, board meeting minutes, holding of annual general meetings (AGM) for clients.

Completion of statutory documents to be filed at Companies House - including the company annual return, allotment of shares, appointment/resignation of directors, change of company name, changes to the articles of association of a company

Please get in contact with us regarding further information that you require in respect of these services.

There are a number of share capital transactions that a company can undertake. These range from straightforward transactions such as the allotment of shares to, through to more complex matters in relation to a reduction in the share capital of a company, or variations in rights attaching to shares.

We understand that you will want transactions to be completed in an efficient manner, and for the various options to be described to you in a clear and understandable manner. We will ensure that we fully understand your situation, including the end results that you want to achieve, so that we can advise on the most efficient manner in which to proceed.

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