In 2019 there were 5.7 million SMEs in the UK (this statistic takes into account micro-businesses which employ fewer than nine people) and 390,000 new businesses started that same year. Britain is one of the most business-friendly countries on earth and has always encouraged and supported entrepreneurship. At Askews Legal LLP, our Company Law Solicitors want to build a long term relationship with you and celebrate your success. By instructing us to advise you on the legal aspects of the formation of your company, you can be confident that you are in full compliance with the Companies Act 2006. Furthermore, we will ensure you have a robust framework in place to help you in achieving your commercial ambitions.
Our Company Formation Solicitors do more than provide legal advice – we act as your long-term partner, identifying opportunities, managing risk, and negotiating key contractual points.
We are a diverse, multi-lingual law firm that uses best-in-class technology to provide clients with streamlined, modern, and highly effective employment law advice and representation. Our years of experience in company law means we have a robust reputation for excellence with the UK’s best Barristers and Queen’s Counsel , accountants, surveyors, and valuers who will, when needed, bring additional support to our Corporate Law Department. As a multi-disciplinary practice, our Company Formation Solicitors can also draw on in-house expertise from our Employment Law Solicitors, Disputes Resolution department, and Commercial Property team to provide advice and representation should you require it at any stage of your business journey.
Below we answer some common FAQs about company formations.
Do I need to have a Memorandum of Association and Articles of Association?
To form a company you need to create a Memorandum of Association (Memorandum) and Articles of Association (Articles) and file them with Companies House. These documents form the backbone of your company and will provide a framework with which to base other forms such as Shareholders Agreements and a Director’s Service Agreement.
How do I prepare my company’s Articles?
When drafting your Articles you can use the Model Articles which can be adapted if required or have bespoke Articles drawn up.
A company’s Articles must cover five essential areas:
- The liability of the company’s shareholders (or members) and how this is limited to the nominal amount they paid for their shares or the amount of their guarantee if the company is limited by guarantee.
- The number of directors, their decision-making powers, and their duties and responsibilities.
- The classes of shares, how many shares will be issued, how shares may be sold or transferred, and how dividends will be paid.
- Details of shareholder meetings, how voting will take place, and all other matters relating to making decisions concerning the running of the company.
- Any other relevant administrative matters.
It is vital to get your Articles correct. Our Company Formation Solicitors will take the time to understand your company and market sector and draft bespoke Articles or amend the Model Articles in a way that ensures commercial objectives can be met.
Why choose us?
Our Company Law Solicitors have been advising business owners throughout the West Midlands for many years. We are proud of our personal service to all our clients and where possible we are always available by phone and will respond to your email within 24 hours.
When advising on a company formation, you can be confident that our team is considering every detail and assessing both short and long term risks and opportunities. Our Solicitors are businesspeople themselves; therefore, we understand that every decision you make must encompass commercial reality. We receive most of our instructions via word of mouth recommendations because company directors and business owners throughout the West Midlands know that we have the knowledge and dedication required to ensure every legal aspect of their company formation is meticulously taken care of.
The advice we give is sharp, practical, and bespoke to your commercial objectives. Our agility and investment in technology mean many of our processes are automated, thereby reducing fees and ensuring your investment as our client is primarily directed towards acquiring our expertise, getting solutions to your problems, and putting you in a position to action opportunities.
We are focused on results and achieving them in the swiftest, most cost-effective way possible. Our Company Law Solicitors will take care of your legal concerns so you can concentrate on your organisation’s future growth and prosperity.
Meet your 'Company Formations' specialists
The team to guide you through your legal needs.
Depending upon the complexity we are able to offer fixed fees in some cases. In other cases our solicitors chargethe following hourly rate:
- Partner/Member SolicitorHourly rate of £250 + VAT
- Senior Solicitor or Head of Dept: (PQE 8yr+)Hourly rate of £225 + VAT
- Assistant Solicitor/Fee Earner (PQE 3/7yr)Hourly rate of £200 + VAT
- Newly Qualified Fee Earner (PQE 1/3yr)Hourly rate of £170 + VAT
- Paralegals/TraineesHourly rate of £120 + VAT
- Support ParalegalsHourly rate of £100 + VAT