“Running a Limited Company” (Sixth edition)

Citation

Taylor, C. (2009), "“Running a Limited Company” (Sixth edition)", International Journal of Law and Management, Vol. 51 No. 2, pp. 125-126. https://doi.org/10.1108/17542430910947158

As the authors themselves acknowledge, “Running a limited company can be a complicated business” and those embarking on such a venture are faced with an increasingly complex and intimidating burden of regulation which can often interfere with their principal objective of conducting their business. The pending implementation of the Companies Act 2006 has only served to add further unwelcome confusion to the process, with a wholesale revision of company law and, for this reason, the sixth edition of this best selling title is well timed and so is likely to prove especially welcome.

For a relatively slim volume, this is a comprehensive and wide‐ranging text which addresses the major changes in the regulatory framework. Developments such as the new requirements for company formation and documentation, amended rules on financial assistance, the new regime for company decision making and the increasing use of e‐commerce are all examined, providing invaluable clarification of these, often complex, provisions. In addition, the text benefits from a formidable alliance of solicitor and accountant to provide a far more useful overview of financial aspects of running a company than is usual in an exclusively “legal” guide to company regulation. In this way, the chapters on accounts and taxation are particularly informative. Similarly, the sections on filing procedures for Companies House and the maintenance of statutory records will prove invaluable to many an overworked manager and director anxious not to miss the relevant deadlines.

Broken down into clear and easily accessible sections, the chapters are an easy source of reference for busy managers and directors and the inclusion of a series of flowcharts and diagrams provide additional assistance. A detailed table of contents facilitates speedy access to the relevant information and the style is particularly clear, which is always a benefit in a text of this nature.

One innovative feature of this title is the “star rating system” which indicates the need for professional guidance on particular issues and so differentiates between those matters which might reasonably be addressed by managers themselves and those where professional input is essential. This simple but novel idea provides welcome reassurance for those primarily concerned with the running of their business who may be tempted, sometimes unwisely, to deal with such matters themselves. Equally, it is always useful to know when a procedure can reasonably be undertaken without the additional cost of professional assistance.

With a wider brief than simply outlining the relevant company law, this text includes a chapter on the internet, websites and e‐commerce, together with a very useful chapter on planning and strategy. Both of these would be unusual in a standard company law text but work extremely well here as part of a more holistic guide to running a company. This serves to illustrate the key advantage of this text as a single point of reference which is informative on a number of levels and which seems sure to maintain its reputation with business people everywhere.