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),...
Deed of adherence—subscription and shareholders’ agreementThis Deed is made on [insert date]Parties1[name of company in which the shares are held] incorporated in England and Wales under number [company number] whose registered office is at [address] (Company); and2[name of new shareholder] of
What is ‘sweat equity’ and how is it used in a private equity or venture capital context?‘Sweat equity’ can refer to where shares are given to managers/founders in either a management buyout (MBO) or venture capital (VC) context, not in return for cash, but based on the recipient’s effort and
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
Scotland—the process for applying for sequestrationSequestration in Scotland is the legal process by which an insolvent debtor’s estate is gathered in, realised and then distributed among their creditors by a trustee appointed for that purpose. The process requires that a formal award of
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