Family businesses and ownership structures

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Family businesses and ownership structures guidance:

What is a company's constitution? A company’s 'constitution' is defined under the Companies Act 2006 (CA 2006) as including: • the company’s articles of association, and...

Practice Note

BREXIT IMPACT: The information to be given when appointing a corporate secretary will be affected by Brexit. For further details, see Impact of Brexit on appointment of...

Practice Note

BREXIT IMPACT: The information to be given when appointing a corporate director will be affected by Brexit. For further details, see Impact of Brexit on appointment of...

Practice Note

A company having a share capital may have separate classes of shares. As a general rule, a type of share will form a separate class from other shares in a company if the...

Practice Note

What is a company limited by guarantee? Limited companies can be either limited by shares or by guarantee. A company limited by guarantee is a type of company whose...

Practice Note

This Practice Note considers the nature of shares in a company and the classes into which they can be divided. If a company has shares of different classes, then class...

Practice Note

Directors are the agents of a company who manage its day-to-day business and owe a number of duties to it. The Companies Act 2006 (CA 2006) codified for the first time...

Practice Note

In 2011, anti-avoidance legislation in the form of Part 7A of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003) was introduced to tackle arrangements aimed at...

Practice Note

Introduction HMRC has, for many years, sought to ensure that the rewards gained from employment are properly subject to income tax and National Insurance contributions...

Practice Note

FORTHCOMING CHANGE: As originally announced at Autumn Budget 2017 and followed up by written statement after Spring Statement 2018, plus an announcement in Budget 2018,...

Practice Note

FORTHCOMING CHANGE: As originally announced at Autumn Budget 2017 and followed up by written statement after Spring Statement 2018, plus an announcement in Budget 2018,...

Practice Note

FORTHCOMING CHANGE: As originally announced at Autumn Budget 2017 and followed up by written statement after Spring Statement 2018, plus an announcement in Budget 2018,...

Practice Note

What some consider to be normal business rules do not always apply in a family business context, eg many businesses consider nepotism to be an unethical...

Practice Note

Family business culture With the typical average cost of replacing an employee exceeding £30,000, recruiting and retaining the right people with the right skill set is...

Practice Note

The vast majority of family companies are privately owned. As such, the corporate governance regime applicable to listed companies (including the UK...

Practice Note

In March 2010, the European Confederation of Directors' Associations (ecoDa) published Corporate Governance Guidance and Principles for Unlisted Companies in Europe. This...

Practice Note