The following Tax news provides comprehensive and up to date legal information on Tax update spring 2025—Tax analysis
Sub-division and consolidation of sharesCoronavirus (COVID-19): Following the coronavirus (COVID-19) outbreak, some Companies House filing and other...
A company’s constitutionWhat is a company's constitution?A company’s 'constitution' is defined under the Companies Act 2006 (CA 2006) as...
Removal of a directorThis note should be read in conjunction with Practice Note: Appointment, retirement and resignation of a director.For an...
Takeover Code—Rule 34—Right of withdrawalThis Resource Note outlines the main provisions of Rule 34 of The City Code on Takeovers and Mergers (Code),...
Investment agreement—single investorThis Agreement is made on [insert day and month] 20[insert year]Parties1[Insert name of company in which the shares are held] incorporated in England and Wales under number [insert company number] whose registered office is at [insert address] (Company),2[Insert
Private equity investment—internal rate of return (IRR)Internal rate of return (IRR) is the standard financial measure prescribed by the British Private equity & Venture Capital Association (BVCA) in assessing private equity performance and comparing across investments.IRR attempts to capture
Private equity investment—ratchetsA ratchet in private equity is a mechanism to vary the amount of equity held by founders, managers and employees post-investment.In a venture capital context, ratchets operate as anti-dilution provisions. They protect early-stage investors from dilution by
Private equity investment—firms and fundsA private equity fund is a pooled investment vehicle.Funds are formed and managed by private equity firms who in turn invest the capital of those funds into private companies (whose securities are not publicly traded on a stock exchange) by way of the
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