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Take advantage of our free expert resources, written by the experts at LCN Legal, based on their practical experience of working with multinational groups and their advisers across the globe. If you are interested in these areas, you may wish to bookmark this page to check back regularly for new information.

Two-page JV agreement for 50/50 start-up ventures

Paul Sutton

Many start-up businesses are a joint venture between two people – and at its simplest form, there may just be an understanding between those two people that they will contribute equally to the time and resources required to get the thing going. In the frenzy of business plans and goal setting and opening bank accounts […]

Group Reorganisations

How should I structure a property development SPV with two shareholders?

Paul Sutton

The following is adapted from a discussion board on AccountingWeb. Question: I have a client company which comprises two directors. One owns 2/3 shares and the other the remaining 1/3 shares. The company has bought a property which potentially could be developed into residential units. The minority shareholder will be introducing 1/3 of the purchase […]

Uncategorised

5 books that will transform your business life (and your personal life)

Paul Sutton

This is a purely personal view – a list of the top five books that will transform the way you think about your business, whatever it is. 1. “Mastering the Rockefeller Habits: What You Must Do to Increase the Value of Your Fast-Growth Firm” by Verne Harnish Lots of actionable ideas about managing a business, […]

LCN Updates

Now Live: Important New Resource for Corporates and Transfer Pricing Professionals

Paul Sutton

Law firm LCN Legal has published a suite of template intercompany agreements for transfer pricing. The templates form part of the LCN Legal ‘toolkit’ of practical resources for multinational corporates. For more information about the toolkit, click here. Most transfer pricing professionals agree that intercompany agreements can play an important role in supporting a multinational […]

Group Reorganisations

Intercompany Agreements

53% of Enterprise Investment Scheme fund managers have not protected their name as a trade mark

Paul Sutton

A survey carried out by fund and corporate law firm LCN Legal has revealed that less than half of Enterprise Investment Scheme fund managers have registered their names as trade marks with the UK Intellectual Property Office. 53% have not, which means that it may be more difficult for them to prevent others from trading […]

Uncategorised

When should I register a trade mark for my business?

Paul Sutton

Trade mark registration is not always top of the to-do list for new businesses – or for businesses new to the UK. So at what point should does it make sense to go ahead and spend the money on a trade mark application? Key questions to ask yourself From a commercial perspective, there are two […]

LCN Updates

Important New Resource for Corporates and Transfer Pricing Professionals

Paul Sutton

Law firm LCN Legal has announced the launch of a suite of template intercompany agreements for transfer pricing. The templates are available as part of LCN Legal’s ‘toolkit’ of practical resources for multinational groups. For further information about the toolkit, click here. Most transfer pricing professionals agree that intercompany agreements can play an important role […]

Group Reorganisations

Intercompany Agreements

7 reasons not to start a corporate simplification project

Paul Sutton

Sometimes it’s obvious that a group needs to remove unnecessary companies. The group may have 128 dormant companies, each of which have done nothing for 15 years. There may be a global policy at head office level which instructs local management to implement a policy of legal entity reduction. Or a key regulator may decide […]

Group Reorganisations

An introduction to limited partnership funds: who does what?

Paul Sutton

This introduction is for people who are considering setting up a UK fund using the traditional structure of an English limited partnership. This is only one of a range of legal structures which can be used, but it is a tried and tested model. The structure is summarized in the diagram below. This particular one […]

Uncategorised

Intra-group transfers at market value or book value

Paul Sutton

This article is taken from the second postcard in our series of cards on group reorganisations, and looks at the price at which assets can be transferred intra-group. Links to the other postcards in the series can be found at the end of this article. This legal issue arises on an ‘upwards’ or ‘sideways’ transfer. […]

Group Reorganisations

Top 5 Eurobond Myths

Paul Sutton

Top 5 Eurobond Myths The so-called “Quoted Eurobond Exemption” remains an effective way of dealing with UK withholding tax on interest. It is potentially available where the borrower is a UK tax resident company, and the lender is foreign resident. In many ways, the term “Eurobond” is misleading, and it can give rise to a […]

Group Reorganisations

How to Use the Solvency Statement Capital Reduction Procedure in UK Group Reorganisations

Paul Sutton

The so-called “solvency statement procedure” is a very straightforward way of creating distributable reserves and enabling assets to be returned to shareholders. This article gives a brief overview of how and when it can be used. 1. What are your objectives? The starting point is to be clear about what you are trying to achieve […]

Group Reorganisations

Does the plan work for everyone?

Paul Sutton

LCN Legal has just launched its ‘family photos’ postcard campaign to help finance and tax professionals understand key legal issues affecting group reorganisations. The first postcard deals with the issue of corporate benefit, and is shown below. Thanks to Word of Mouth Communication for the concept and the design. Links to the other postcards in the […]

Group Reorganisations

How to Put in Place Effective Intercompany Agreements for Transfer Pricing

Paul Sutton

IMPORTANT NOTE: This article was first published in the Tax Journal on 4 October 2013. Since then, the content has been substantially updated and revised and now forms part of our Free Briefing on How to Create Effective Intercompany Agreements for Transfer Pricing. This Briefing takes into account the 2017 edition of the OECD’s Transfer […]

Intercompany Agreements

When is Backdating OK?

Paul Sutton

This is one of the most common issues which comes up in the context of group reorganisations or intercompany agreements. Although it may have been intended to put in place a new arrangement by a particular date – often a year end – that date may now have passed. The question is: can the documents […]

Group Reorganisations

Intercompany Agreements

Market value vs Book value: invalidity risks on intra-group transfers

Paul Sutton

Market value vs Book value: invalidity risks on intra-group transfers Group reorganisations often involve the transfer of assets from one company to another. The assets may be tangible or intangible assets, or they may be a debt receivable which is owed by another group company. One of the key issues from a UK company law […]

Group Reorganisations

LCN Legal presents training session on Corporate Simplification

Paul Sutton

Paul Sutton, Partner at law firm LCN Legal, has presented a training session for accountants on corporate simplification (also known as ‘legal entity reduction‘). The session focussed on the drivers for corporate simplification projects, as well as key lessons learned from managing similar projects.

Group Reorganisations

Using Quoted Eurobonds to address UK Witholding Tax

Paul Sutton

Using Quoted Eurobonds to Address UK Withholding Tax In general, UK withholding tax becomes payable at the rate of 20% when a UK tax resident company pays interest on a loan to an overseas lender. Ordinarily, the UK borrower will not be disadvantaged because it can still benefit from a potential tax deduction for the […]

Group Reorganisations

New law firm LCN Legal is launched

Paul Sutton

New law firm LCN Legal is launched, with the objective to complete projects for clients quickly and efficiently as possible, giving them the legal support they need when they need it, and the knowledge that they are in good hands. The firm’s main focus areas are legal implementation of group reorganisations and corporate simplification projects, […]

LCN Updates

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