Recent content by jack52

  1. J

    Best business structure for internal trading software company?

    What does the software actually do?
  2. J

    Best business structure for internal trading software company?

    Even creating a 'monitoring tool' might be a regulated activity. It likely depends on what exactly it does and so expert advice would be needed.
  3. J

    Best business structure for internal trading software company?

    I think anything related to 'trading software' you 100% would want legal advice from a top financial services law firm.
  4. J

    Best business structure for internal trading software company?

    The UK regulatory perimeter is extremely confusing and can be very unclear. You will need proper legal advice from someone who really understands what you are doing. Unfortuately innovation in UK financial services is very expensive from a legal / compliance point of view. What exactly does...
  5. J

    Profit Sharing and VAT

    customers only see XYZ and the employees (even though of ABC) will present themselves as XYZ not as agents of XYZ.
  6. J

    Profit Sharing and VAT

    but you could argue that XYZ is providing its balance sheet and good name to ABC
  7. J

    Profit Sharing and VAT

    I know this is a somewhat complex area and of course for an actual agreement I would seek professional advice but I am trying to understand the possible scenarios in which a profit share is VAT exempt. From reading some HMRC guidance it seems to me that a 'true' profit sharing agreement is VAT...
  8. J

    Parent - Subsidiary Liability

    i would like HoldCo not to be liable for the debts of SubCo start a new business using the funds of HoldCo without exposing HoldCo to a liability greater than the equity invested in SubCo
  9. J

    Parent - Subsidiary Liability

    I was investigating today some corporate structure setups: Suppose HoldingCompany (UK Limited Company) owns SubsidiaryCompany (UK Limited Company). Apparently that even though they are separate limited companies is it likely that the HoldCo can be held liable for the debts of the SubCo...
  10. J

    Banks for high risk business

    It turns out the reason is that my (former?) client currently is a limited company with no directors.
  11. J

    Banks for high risk business

    the precise reason was not disclosed to us and its not obvious what the reason is (its a UK company). I think to be honest I can't really be bothered to set up a new bank account anyway and so perhaps the answer is we should stop doing business with that client. But it feels a bit unfair ... I...
  12. J

    Banks for high risk business

    Our current bank wants us to stop doing business with a certain client - this was discussed in depth but no flexibility here unfortunately. The reasoning is commercial / risk on their part not any legal requirements (e.g. sanctions). I have also confirmed with our legal advisors that there is no...
  13. J

    running a fin company/company designated to trading

    That assumes they are able to be precise about what the business does. If you have a vague notion or a general concept then any answer is going to be meaningless. A lot of the regulatory perimeter depends on the exact details and is constantly changing. In my opinion, if any business idea even...
  14. J

    running a fin company/company designated to trading

    Even if you create a limited company with just yourself as the shareholder and you just trade with the companies money... that can still be a regulated activity. Search 'principle trading firm' on FCA's website.
  15. J

    What legal tasks would you handle yourself if it was easier?

    Sure but these edge cases will not be in the shareholder agreement. It is never going to cover every possible scenario.
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