Starting a new business in the UK

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This essay should completed in the form of a report and also there is a file have an information that provide for this report in the attachments. =================== Please follow the points to complete the report. You are setting up a business venture of your choice, which will be based in the UK. You are required to investigate the practical implications of the UK legal system in relation to your chosen venture. The report needs to include: 1) A brief description of the type of venture you are proposing to set up. Consider here, its ownership status, products and/or services and structure. 2) A description of how you would legally set up this particular type of venture. This section should include a brief description of the UK legal system and then include relevant discussion of the legal implications of setting up the specific type of business organisation you have selected. 3) A description of how the UK taxation system would affect your venture. Explain here, how the UK taxation system works generally, and then the implications for your specific type of business organisation. 4) How you will run your venture to ensure that you are protecting the legal rights of the consumer once you start trading. Consider here specific aspects of legislation that must be adhered to as well as providing examples of good practice, relevant to your chosen venture. Here are the suggestions that the tutor gave. When you are completing assignment 1, it may be worth considering the following in terms of structure and content (Please note word counts are just suggestions, it is your choice how much emphasis you place on each section, just remember to add a final word count at the bottom): Introduction: Just outline the purpose of your assignment and the objectives (the content which you will be covering) of the assignment (Word Count up to 100 words) Part 1: Introduce your business in detail: try to describe how it will run, the products and services that you are offering, its name, location, etc. When you discuss ownership status, justify why you have selected a particular ownership type, instead of other options available to you. Word count (Approx 400-500 Words) Part 2: In this section describe initially how you would legally set up your business (refer to week 2 lecture), also describe what would be considered good practices when setting up your business, think about having a business plan, or partnership agreement for example, and mention what might be included in these documents. In the second part of this task, mention how your business will fit within the UK legal system if it should run in to any problems, perhaps give a few examples and then mention which court system these issues may be heard in, also mention the appeals process/structure should there be a remedy which is not acceptable to all parties (see week 1 for all this detail). (Word count 600-700 words) Part 3: Consider here with examples how your chosen venture would be affected by the taxation system (refer to week 4 Guest Lecture), consider also NI and VAT (if applicable) as well as tax, include rates and registration processes as well as how to ensure you are complying with tax law each year your business is running and what to do should you cease trading. (Word Count Approx 500-650). Part 4: Consider here specific legislation that you should adhere to, to ensure you are protecting the rights of your customers, pick laws that are relevant to your chosen venture, and provide examples to underpin your understanding of practical application. Also consider more widely any examples you can think of, of good practice, when dealing with and preserving the rights of customers. (Word Count Approx 700-750). Conclude: Perhaps just summarise the importance of the law affecting businesses throughout the UK. (Up to 75 words) based on Establishing_a_legitimate_business_enterprise_in_the_UK.docx
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