When an asset falls in value to the point that it is almost worthless, it may be possible to make a negligible value claim under Section 24 of the Taxation of Chargeable Gains Act 1992 . The asset will then be treated as if it had been sold and immediately...
There are many types of joint venture and there is no ‘one size fits all’ approach to business partnerships and collaborations. Whether you have agreed to enter into an informal commercial relationship with a business partner or you are looking to enter into a detailed joint venture agreement, our commercial team is here to help.
Joint ventures can take any number of forms, from the establishment of a business through a joint venture entity (be it a company, a limited liability partnership, etc.) to the entry into long or short term collaboration agreements and business plans. Whatever form your venture will take, it is important that the parties consider how the business will be structured and organised, who will contribute funds or assets, cash flow, how the business will operate, what the common objectives are, how control is split and how and when it might be necessary to expand or unwind the venture.
At Tanners our commercial team can guide you through all aspects of the joint venture process, including creating the relevant structures, documenting the parties’ proposals and advising on all aspects of joint ventures from inception to wind-up, including ongoing operations and disputes. We work in collaboration with our property and employment teams, giving you a full-service and ‘one stop shop’ for all of your legal needs with respect to joint venture arrangements.
Speak to our commercial law solicitors today
Bring a joint venture to life or take expert advice on existing ventures by calling 01285 659061 at one of our offices in Cirencester, Cheltenham or London, or using the contact form at the top of the page.