As a business owner, it’s likely that you will encounter the need for a solicitor. Whether you need contracts signing, want to handle a dispute, or need assistance with debt recovery, solicitors can be a helpful resource for covering your back when it matters the most.
With a wealth of legal resources at their disposal, solicitors are armed and equipped to support you and your company at every turn, and will help to make sure that you adhere to all legal requirements during a dispute or claim.
If you’re a business owner in need of legal support, here are five reasons why having a solicitor in close contact could be a saving grace for your company’s continued success.
1. Lease Negotiations and Expansion
If your company is going from strength to strength, and you want to expand or take onboard a bigger lease to facilitate your growth, it’s a good idea to involve solicitors from the outset to manage your affairs.
As your company becomes larger, it’s a good idea to keep tabs on the legalities of your moves, just in case you encounter any bumps in the road.
2. Debt Recovery from Customers or Clients
Very occasionally, customers or clients might decide not to pay. When this happens, having the law on your side can help with any unexpected legal costs, as well as procuring the best advice for helping you to deal with the ins and outs of the process.
You may need to involve debt collectors later on in the process, or involve court proceedings. Solicitors can advise you on business law, and financial and legal matters to empower you to make the right decisions for your company.
3. Business Restructuring
As your business grows, you may occasionally need to restructure or expand your team. The bigger your staff team becomes, the more you will need to work to ensure that you respect employment laws and are following the correct procedures for employment.
The more employees you have, the bigger your business is classed as, and you will likely be liable for different taxes, and benefits.
You can find more information about business size and filing accounts, you can use the UK government website as a starting point for helpful advice.
4. Tax Law Advice
In the UK, the consequences can be severe if a business is found to be paying the incorrect amount of tax.
Staying up to date with your accounting is one way to prevent an unexpected tax bill, but getting the right legal advice can help you to know your options if you do. The HMRC website has all the information you need to keep your taxes correct and up to date.
5. Claims for Injury or Illness
It’s inevitable that both injury and illness will occur in and around your workplace, and making sure that your company is covered for claims will keep you protected and provide you with support in the unlikely event of a serious accident where an employee may make a claim against you.
Solicitors like Dickinson Parker Hill are dedicated experts in business law, who can ensure that you receive the support you deserve for tackling a workplace injury claim without breaking a sweat.
Do you have any tips for using a solicitor for your business needs? Share your thoughts in the comments section below!