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There are many reasons why shareholder-directors of private family companies may decide to split a single business into two or more separate entities. Often, these companies have grown to a point where different members are responsible for distinct divisions or activities and, as the business expands, individuals may wish to take control of their own area independently. Disagreements about strategy or management can also lead to separation, each shareholder director taking ov

Most businesses expand via recommendation; however, there may come a time when a more effective method of expansion is needed such as acquiring another business. When one company buys another, the arrangement is usually structured either via a share purchase or an asset purchase. Each method has its advantages and each method its own specific tax issues. Share purchase In a share purchase, the buyer acquires the shares of the target company and takes ownership of the entire b

Starting in self-employment can feel daunting. There may be a website to create, a business bank account to open, pricing to set and possibly premises to secure. In the midst of these priorities, many new sole traders overlook a key requirement – registering with HMRC. Failing to register on time can lead to penalties, including possible backdated obligations. Is registration mandatory? Registration becomes mandatory when gross income exceeds £1,000 in a tax year. Termed the