Business structures: the options available
Please note that this guidance is intended to be used for general information purposes only, is not intended to be a definitive guide to the law and cannot be a substitute for independent advice. NFU members can obtain free initial legal and professional advice from NFU CallFirst on 0370 845 8458.
There are several types of structures that a farming business can adopt. In this business guide we set out the options to assist you in deciding which structure is right for your business.
For more information contact NFU CallFirst on 0370 845 8458.
There are four categories under which a business can trade:
- sole trader/self-employed
- partnership
- limited company
- limited liability partnership
The first two of these will come into existence automatically as a result of the way in which the business is organised, irrespective of whether any formal steps have been taken. Limited companies and limited liability partnerships, however, have to be formally set up and registered with Companies House.