This report analyzes various business organizations within the United Kingdom, focusing on the legal structures available for a business named IOM Solutions, owned by Sam, who currently operates as a sole trader. The report begins with an introduction to the nature and management of companies in the UK, covering key aspects like business transactions, vicarious liability, and the roles and responsibilities of company directors. It then delves into the legal business structures, including sole traders, general partnerships, limited partnerships, and limited liability partnerships (LLPs), providing detailed explanations of their formation, taxation implications, liabilities, and dissolution processes. The report also includes the advantages and disadvantages of each structure, offering recommendations tailored to IOM Solutions, and concludes with a summary of the key findings. The report draws upon relevant legislation and academic sources to provide a comprehensive overview of business law and organizational structures in the UK, offering guidance to business owners like Sam on how to structure their business for optimal success.
![[object Object]](/_next/static/media/star-bottom.7253800d.svg)
