T 3 Business Law

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Question English Answer English
business with just 1 owner (proprietor), doesn’t have to be registered and the owner has unlimited liability, the owner pays just income tax
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Sole trader
kind of a business that consist of at least 2 partners, who have unlimited liability, they have joint and several liability
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kind of a business that consist of at le in English
Partnership
kind of business with at least 2 parners, one is called general partner and has unlimited liability, and others are called limited partners and have limited liability
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Limited partnership
mixture of company and partnership, consist of members/partners who have limited liability, must be regitered, each member has to pay income tax
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Limited liability partnership
company with at least 1 shareholders with limited liability up to the value of investment, shares can be bought only directly from shareholders, company is liquidated
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Private limited company (ltd)
kind of business that consists of at least 2 shareholders with limited liability, shares are publicly avalible (can be bought on Stock Exchange)
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Public limited company (plc)
person who works on his own and for himself
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Self-employed
document that has to be delivered to tax office by sole trader and partnership, tax declaration
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Annual self-assessement form
to invest, to put money into a business
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to contribute
foce sb to do sth
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to expel
money that the partners gain on the account of future profits from the partnership
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Drawings
registered
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Incorporated
if not
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Otherwise
organisation that has rights and duties of individuals
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Legal entity
payment of company’s profits to it’s shareholders usually once a year
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Dividend
Maxiumum amount of share capital that the company can issue
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Authorised share capital
first value of a share that doesn’t change  par value, face value
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Nominal value
amount of money that you have to pay to buy a share
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Market value
process in which all assets of the company are sold to pay its debs
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Liquidation
considerable (znaczący)
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Substential
company that is arealdy registered and can be sold
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Off-the-shelf company
set of documents that a company has to deliver every year to Companies House, these documents give up-to-date information about company, the documents are: profit and loss account and balance sheet (shows the value of assets and value od debts)
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Annual return
income tax that companies pay
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Corporation tax
tax on income of individuals
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Income tax
partners are liable for parnterships debts individually and together as a group
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Joint and several liability
to resolve a dispute
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To settle a dispute
warning that sth is going to happen
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Notice
total
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Aggregate
first shareholders of a company
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Subscribers
exist
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to subsist
1) depending on, 2) except [z zastrzeżeniem]
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Subject to
to end, to terminate
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to determine
Zaciągnąć dług
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incure a debt
Znaleźć się w ryzykownej sytuacji
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to be at risk
działać pod firmą
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To trade under
Dochód z inwestycji
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return on investment
Zastosować się do prawa
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comply with law, abide by law
robić zysk/pieniądze
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Make profit/money
robić biznes
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To do business

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