An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers
Why set up a company? This book tells you not only why, but how and occasionally why not, depending on your aims and circumstances. Aimed at lawyers, company directors, company secretaries, accountants and other officers of a private company, it contains detailed and authoritative advice pertinent only to companies registered in England and Wales, Scotland or Northern Ireland. Now it its eighth edition from Jordan Publishing, this well established and reliable work of reference functions admirably as an affordable, practical, plain English guide to the various requirements you may face as an officer, or shareholder of a private company limited by shares.
Be warned by the authors though, that `running a limited company can be a complicated business' and not, we might add, for the faint hearted, the uninformed or the misinformed. If you by chance fall into the latter two categories, this book can spare you many or all the pitfalls you are likely to encounter, although it does counsel you to get professional advice.
Armed with the information contained in this book, you are better able to know which questions to put to your advisers, saving yourself both time and money. The key, say the authors, is knowing when advice is needed (before it is too late), and when it is not! Usefully, the book's `star-rating system' indicates the degree of need for professional advice, from one star `desirable' to three stars `crucial.'
This new edition contains much new material, taking into account the significant amendments to the Companies Act 2006, described by the authors as `the longest Act that Parliament has ever produced.' The resulting changes (too numerous to mention here) including `codified' directors' duties and other changes which affect the way shareholders of a private company make decisions.
Also note the wider powers for companies and their shareholders to communicate electronically. To this end, check out Chapter 14, as succinct a summary as you'll find anywhere on the power of the internet for marketing as well as communicating information. Indeed, the book is a concise and effective survey of all aspects of running a company, from directors' duties, accounting, taxation, strategy and planning though to insolvency.
Whether you are a lawyer or a layman, if you are involved the management of a limited company, or you are thinking of establishing one, this is the book you need.
The law is stated as at 1 August 2013.
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