Choosing the most beneficial entity designation is one of the most important things to consider when starting a business. It is possible to change your entity type once you have established the business, but it is a costly and time-consuming process. That said, you should be careful in choosing the entity. The big question is, how to choose the right entity without any prior experience in setting up for one?
Well, there are resources available online, but DIY the process has its limitations. …
This article will inform you about everything you need to know when looking to register a company name and/or structure for your newly formed business, including the advantages and disadvantages of the most common structures, giving you an indication to the structure best suited to you.
Register as a Sole trader
Registering as a Sole Trader is one of the most common and straightforward options for anyone looking to start their own business. It is often adopted by ‘lone’ businessmen and women such as Personal Trainers, Accountants, and Photographers, to name a few.…
There are several major business structures in the United States including Limited Liability Corporations, or LLC’s, Partnerships and Sole Proprietorships. If you are starting a new business, you may consider registering your company as an LLC. Using a guide will help explain what is an LLC further and determine if it’s the best choice for you. Here is more about the benefits of an LLC:
Tax Benefits
Unlike corporations, LLC’s do not file corporate tax returns. This means that each individual member of the LLC will report losses and profits on an individual form.…
Every year brings changes and new challenges for employers large and small; 2018 will be no different, but forewarned is forearmed, so here are some of the big changes to look out for.
As ever, if you’re worried or unsure about changes to employment law, then get in touch with experts like elliswhittam for help and advice.
Data protection changes
The European Union’s General Data Protection Regulation will be enshrined in UK law on May 25 2018. This new legislation builds on existing UK data protection laws and puts more obligations on organisations which hold data on individuals.…
When you’re running a small business, you need legal advice just as much as a large, well established firm. It’s possible you need it even more so in the early days: established companies have well-worn procedures in place to deal with most easy to anticipate issues that may arise: as someone setting up a business for the first time you don’t have that luxury.
It’s equally true that you likely don’t have the resources necessary to keep a lawyer on staff ready for every situation that arises – even if you do, it would likely be a waste of your budget to hire your own corporate lawyer at such an early stage.…
You might have expert skills managing your business, but other elements in your life could be a train wreck. One area of example involves driving: It’s not that you’re a bad driver, but if you have a lot of problems with speeding tickets and other driving offenses, your business car insurance agent might be busy settling your claims throughout the year. Eventually, you could face a driving ban, which will hurt your business.
How to Face a Driving Ban
You can stop a driving ban for some scenarios, but other circumstances leave little room for anything other than a ban.…
If you want to protect a business name that you are currently using, or you simply want to prohibit another company from using or registering a particular name for any other reason, you can set a UK limited company for these very purposes. No two companies are legally permitted to be registered under the same name, nor can they register names that are so similar to one another they are likely to cause confusion, unless they are part of the same group.…
If you’re considering setting up a new business in the UK, the two most popular options are the sole trader structure and a private limited company. The sole trader option is more suitable for startups and very small businesses which are owned and operated by just one person, whereas a limited company is ideal for all types and sizes of businesses with one or more owners, including startups, existing sole proprietors and established organisations.
There are advantages and disadvantages to both legal structures, so it’s important to familiarise yourself with their features and requirements to determine which one will best serve your needs.…
Regardless of your current employment status, you’ll likely be well aware of what it takes to be a good employee. The majority of these things will be personality traits (such as being hard working, self-motivated, and sociable), but there are still several other things to consider.
Alongside luck and timing, employment law also plays a massive part in being a successful employee.
The term ‘employment law’ is a rather general one. It mainly concerns employment contracts and statutory requirements, employee rights, and managing employees.…
The already disparate E.U. and U.S. online privacy laws may diverge even more. U.S. tech companies aren’t thrilled by the notion, claiming that a proposed European Commission online privacy bill could stall both innovation and the economy.
Is the anxiety warranted or is it hollow concern trolling?
Current Privacy Law Landscape In The US
U.S. officials – under the aegis of tech and private business advocates – have yet to pass a “universal” online privacy bill, but not for lack of trying.…
