Know Your Rights
Whether you are considering setting up and running your own business, or wishing to acquire a business, sound professional advice is vital to the success of the venture.
We have the necessary commercial experience to guide you through the obstacles involved. We have a wide network of professional advisers and can recommend other experts such as accountants and financial consultants, if and when required.
It is essential to get the structure of your business right. Should you be a sole trader, in partnership or a limited company? We can help you to decide which will be the most beneficial to your business.
Forming a company
Drafting the ‘Memorandum and Article of Association’ of the company
Preparing a partnership agreement
The legal implications of taking on a business lease can be wide ranging and complicated.
We can assist you by providing answers to the following questions:
How to best negotiate the terms of a lease?
What personal guarantees, if any, should you give to a potential landlord?
Do you need planning permission for your intended use of the site?
Enterprises operating as franchises are an increasingly popular method of getting into business. However, just as you need to take care in selecting the particular franchise that is best suited for you, you also need expert guidance in dealing with the details of the Franchise Agreement. If you are you intending to enter into a business through a Franchise Agreement you should speak to us first.
We can assist you in negotiating the agreement to protect you initial outlay, ensure that a comprehensive back-up service is provided by the franchisor and secure an equitable royalties ratio.
Your business may well require staff to operate it, in which case there are many areas in which you may need advice, such as:
- Employee contracts
- National Insurance and PAYE
- Sick pay, holiday pay and overtime pay
- Redundancy and dismissal of employees
- Industrial tribunal proceedings
- Insurance cover for staff and the public
- Employment disputes
We have many years of experience in dealing with such issues and many clients have found that by obtaining our timely advice they have been able to deal with these complicated issues satisfactorily and cost effectively.
Depending on the nature of your business you may also need guidance on:
- Patents and trademarks
- Copyright Licensing
- Your ‘terms of business’
- Doing business with other countries
- Health, safety and hygiene legislation
- Debt recovery
- Consumer credit facilities
- Insurance cover
When you instruct Chhokar & Co you can rest assured that you will get advice that is informed, practical and cost effective.
How taxation issues are in dealt with by a small business can have a great impact on its development and progress. Some issues that are worth considering include:
Keeping your tax liabilities to a minimum
Steps to take regarding VAT and when you should register for it
Tax provisions for transferring your business to your family upon retirement
Pension plans and other investments
Safeguarding your business interests and your family should you become sick or die
We can also give advice about whether you can withdraw your investment from a business and assist with problems which may arise when partners and shareholders disagree; for example, ensuring your rights are recognised and that responsibilities and profits are being distributed fairly.