This overview is a guide to the content within the Other forms of business vehicle subtopic, with links to the appropriate materials.
It is important that the most appropriate form of vehicle is chosen to carry on a business—the choice of vehicle may have a bearing on the business’s success or failure.
There is not one vehicle that will suit the needs and demands of every business. Each vehicle has its advantages and disadvantages. The decision as to which vehicle to use to carry on a particular business will be complex and dependent on various legal, tax and commercial considerations—there may not be a perfect fit.
In addition, the vehicle originally chosen to carry on a particular business may not continue to be the right choice of vehicle for that business as it develops and matures. The vehicle chosen to carry on a business should be kept under periodic review. If the original choice of vehicle to carry on a business becomes inappropriate, an alternative vehicle may take over the business, although a change of vehicle may be complicated and costly,...
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Forms of business vehicle—fundamentalsThere are many forms of business vehicle and it is important that the most appropriate form of vehicle is chosen to carry on a business; the choice of vehicle may have a bearing on the business’s success or failure.Not every vehicle will suit the needs and
Unlimited companiesThis Practice Note summarises the main features of an unlimited company and why an unlimited company might be used as a vehicle to carry on a business as opposed to a limited company.What is an unlimited company?An unlimited company is a private company whose members are not
Unincorporated associationsThis Practice Note explores unincorporated associations. It describes the legal framework and structure of an unincorporated association and considers the perceived advantages and disadvantages of operating this vehicle.What is an unincorporated association?An
Companies limited by guaranteeA company limited by guarantee is a type of company with members who have undertaken to contribute to the assets of the company in the event of its being wound up. This Practice Note summarises the main features of a company limited by guarantee and why a guarantee
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