Book Review

Tolley's Tax Digest — Incorporation by Mark Lee (31 pages; Price £25; ISBN 14784653)

Commentators make much of the 'pressure to incorporate' arguing that the current fiscal and regulatory regime puts unincorporated businesses at a disadvantage. While there may indeed be something in the argument that a nation of shopkeepers is becoming a nation of shareholders unincorporated businesses are alive and kicking. Indeed last time I looked (which admittedly was a couple of years ago) Companies House had records for approximately 700 000 limited companies while the Inland Revenue owned up to knowing about approximately 700 000 unincorporated businesses. Times change and so do measurement methods but it is worthwhile keeping these statistics in mind.

Against this background practitioners are seeing more clients who wish to incorporate. The...