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...
One important aspect for any business arrangement is to ensure that the commercial terms are certain and that the parties can rely on clear documentary evidence when considering their rights and obligations. Businesses will want to ensure that their payment terms are clearly defined, there are remedies for defaults and their own liabilities are limited as far as possible. Tanners Solicitors has worked with clients across all manner of businesses and we will ensure that you have terms that reflect how your business operates and protect you to the fullest extent possible.
If you have just started a new business, are looking to formalise how you operate or simply need to update your terms, we can guide you on best practice and we can tailor your terms to reflect your business and personality whilst ensuring you are not caught off-guard. Our commercial lawyers will ensure that your terms cover all matters that you may not have even considered before, including (but not limited to):
- When will you be paid for your goods or services?
- What recourse will you have if payment is not made?
- Are you giving any warranties and have you considered warranties that might be implied by operation of law?
- Are you indemnified if things go wrong?
- Is your liability unlimited? Are any limitations on your liability legally enforceable?
- How can you bring the contract to an end?
- Have you left yourself open to agreeing contract terms verbally or in writing without even realising?
- Who takes on risk and when?
Speak to our commercial law solicitors today
Ensure your business dealings are protected and give yourself peace of mind 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.