Understanding the intricacies of commercial leases in Scotland is a multifaceted endeavour that demands careful consideration and meticulous attention to detail. From legal obligations to financial implications, exploring the landscape of commercial leasing calls for a nuanced approach. As businesses venture into the domain of lease agreements, a myriad of factors must be scrutinized to…
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,…
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…
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…
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