Stay informed with expert insights on business law, legal trends, and practical advice for entrepreneurs and companies. Written by experienced business lawyers.
In July 2013, the Land and Buildings Transaction Tax (Scotland) Act 2013 was enacted, establishing the ‘LBTT’ as the tax that is due on the chargeable interest in a property. Both residential and commercial properties are subject to this property tax, which supplanted Stamp Duty Land Tax (SDLT). LBTT was formally implemented on April 1,…
Scotland’s strategic initiatives to combat carbon emissions are commendable, with a clear roadmap towards achieving net zero status by 2045. As the global community intensifies efforts to address climate change, Scotland’s proactive stance through legislation like the Heat in Buildings Bill sets a promising precedent. The upcoming prohibition on polluting heating systems and the proposed…
If you’re looking to expand your property portfolio and optimise your tax situation by considering tax relief on mortgage interest and the market value of the property. Consider the strategic move of transferring your property to a company. This shift could potentially open up a world of tax benefits that might surprise you. Lower tax rates, inheritance tax…
Whether you intend to restructure your present company or launch a new one, the structure you decide upon is important. You should take into account several elements including the kind of company you run, your goals and the funding source. Three of the most often used structures that offer a useful basis for decision-making are…
In the intricate landscape of leasing renovated spaces, occupiers must strategically chart their course to safeguard their interests and financial well-being. By meticulously crafting bespoke lease agreements that delineate repairing obligations and establish clear parameters for liabilities, occupiers can shield themselves from unforeseen costs and structural risks. However, beyond the initial negotiation phase lies a…
By offering a summary of debt, equity, and hybrid financing choices, this article shows three ways to fund a start-up in Scotland or England & Wales. Debt Financing: Loans from Banks Under this kind of debt financing, a Bank loans money to you, or the company, depending on the legal structure you have selected for…
Every company is obliged to have a basic constitutional instrument in place on incorporation and all during its existence: the Articles of Association. Articles set the guidelines for how a company should run. Standard, untailored Model Articles of Association[1] are options for businesses. Where there is, or is expected to be, more than one shareholder,…
Recent occurrences have once again demonstrated how crucial it is for companies to make sure that they have suitable backup plans in place to recognise and manage the main risks that concern them. The majority of large organisations have complex business backup plans, while smaller companies and startups may not always have this kind of…
Buying or selling a business is no small feat, especially in Scotland where specific legal nuances can complicate the process. Whether you’re a seasoned entrepreneur or a first-time business owner, having a solicitor by your side can make all the difference. In this comprehensive guide, we’ll delve into the pivotal role of solicitors in business…
This article is the first of two that addresses some of the important factors one should take into account while deciding whether to buy the assets or the shares of a company: in this article, we cover asset purchases. If you are thinking about buying the assets or shares of a company, we highly advise…
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