Business Organisations: Legal Structure of UK Companies and Recommendations for IOM Solutions

Business Organisations

Table of Contents
INTRODUCTION ..........................................................................................................................4
MAIN BODY...................................................................................................................................4
Business and organisation in the UK .........................................................................................4
Legal business structure of UK companies.................................................................................5
Recommendations for IOM Solutions .......................................................................................7
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Business organisation basically refers to an entity which is formed for the purpose of
carrying on commercial enterprise. These are the organisation which are based on the systems of
law that governs the contract and which exchanges property rights and incorporation as well.
Business organisations are important because if the business is not properly organised, paper
work gets lost and valuable time is spent on finding information that should be readily
available(Bajdor Bubel and Lis Buckley., 2016).It has been observed that good organisational
skills can break or make the business owner which ultimately saves the time and also reduces the
stress level as well. The present report will cover discussion about businesses and organisation
in the UK and also about legal structure of business of the companies of UK. In addition to this,
the report will cover analysis about the recommendations for IOM Solutions.
MAIN BODY
Business and organisation in the UK
In the UK country, the economy is majorly dominated by the service sector which
includes banking, insurance and business services and these are all the main drivers of the
country's growth. There are other important industries as well which includes chemicals, metals,
aerospace, ship building, motor vehicles, textiles, clothing, food processing, arts, electronic and
communication equipment.
Laws followed by the UK organisation: There are different kinds of laws which have been
followed by the UK organisation in order to perform into effective manner. It basically include
company law, small business, enterprise and employment act 2015, financial service act 2012
and financial services (Banking reform) act 2013. Company law in the UK is mainly set out the
companies act 2006 which sets out the requirements for distribution, preparation and filing of
reports and accounts which includes the choice of accounting framework(Gold and Heikkurinen.,
2018).This is the law which has been introduced in order to simplify the administration and to
improve the rights of shareholders as well. This is the law which has been used in order to update
and simplify the corporate law.
Transaction management of the organisation: For the effective transaction management of the
company it is very important that to have proper coordination between accounts and finance
department and management as well.