When should my company use a company and commercial solicitor?

Company and commercial law is a particularly fast moving area of law and involves a number of different areas of law from tax law to complex voting and company creation arrangements. There are very particular laws that apply to companies and you should always instruct a specialist company solicitor as rules are very different compared to other types of businesses; for example, a company is taxed using corporation tax and corporation tax works entirely differently to taxes applied to other types of business. The rules regarding corporation tax change on a yearly basis and in order to run your company in a tax efficient way, you need to use a solicitor that deals with corporation tax as a major part of their business so that you can ensure they keep up to date with changes.

Some aspects of the law relevant to companies are exclusively applicable to companies and therefore always require a specialist company and commercial solicitor. There are very specific rules relating to how to set up a company, how shareholder voting works, how to register your company, and what documents and accounts need to be registered. In addition, company and commercial solicitors can advise their clients on competition law, international trade law, banking and finance, mergers and acquisitions, and commercial contracts.

If you are a director of a company and you fail to properly adhere to the rules in the Companies Act 2006, then you could be liable under civil law, but also, in some cases, you could be liable for criminal prosecution. The rules relating to private and public limited companies are very different and there are much stricter laws in respect of public companies. Nevertheless, the law relating to all companies and their commercial activities requires specialist attention. It is therefore advisable to always obtain legal advice from a specialist company and commercial solicitor.

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