Business Law and Practice provides a detailed guide to the forms of business organisation most commonly encountered in practice, examining their internal concerns, their relationships with outsiders and a broad overview of their possible tax liabilities. As such, the book provides a comprehensive and practical introduction to advising businesses, whatever their structure. This edition has been revised to take account of the main changes to be brought in by the Company Law Reform Bill and those already brought in by the Companies (Audit, Investigations and Community Enterprise) Act 2004. There is a new chapter on Limited Liability Partnerships (LLPs), a summary section on schemes of arrangement and the section on preference shares, and methods of selling shares has been expanded. There is also a new appendix on interpretation of company accounts.