Business Law and Practice
SQE1 Revision Checklist
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SQE 1 Topics
Sub Topic
Corresponding Chapter
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Business organisations and their characteristics
Sole traders
Chapter 1, Pages 3–5
Partnerships
Chapter 1, Pages 6–7
Limited liability partnerships (LLPs)
Chapter 1, Pages 11–12
Companies (private and unlisted public companies)
Chapter 1, Pages 7–11
Legal personality and limited liability
Unincorporated businesses
Chapter 1, Pages 2–3 and 3–7
Incorporated businesses
Chapter 1, Pages 2–3 and 7–12
Procedures and documentation required to incorporate/form a business
Formation of a partnership
Chapter 2, Pages 19–26
Formation of an LLP
Chapter 1, Pages 11–12
Incorporation of a company, its constitution and Companies House filing requirements
Chapter 3, Pages 39–48 and 57
Finance
Equity finance
Chapter 5, Pages 90–102
Debt finance
Chapter 5, Pages 102–107
Types of security
Chapter 5, Pages 103–105
Distribution of profits and gains (see also ‘Business accounts’)
Chapter 5, Page 98
Financial records, information and accounting requirements –
Trading profits
Chapter 7, Pages 145–153
Business accounts
Chapter 5, Pages 108–114
Corporate governance and compliance
Rights, duties and powers of directors of companies
Chapter 4, Pages 64–65 and 67–77
Rights, duties and powers of shareholders of companies
Chapter 4, Pages 78–81
Company decision-making and meetings: procedural, disclosure and approval requirements
Chapter 3, Pages 48–55
Documentary, recordkeeping, statutory filing and disclosure requirements
Chapter 3, Pages 54 and 57
Appointment and removal of directors
Chapter 4, Pages 65–66 and 75–77
Minority shareholder protection
Chapter 4, Pages 80–81
Partnership decision-making and authority of partners
Procedures and authority under the Partnership Act 1890
Chapter 2, Pages 26–31
Common provisions in partnership agreements
Chapter 2, Pages 21–27
Insolvency (personal and corporate)
Options and procedures – Personal insolvency – including bankruptcy and IVAs
Chapter 6, Pages 122–132
Corporate insolvency – including compulsory and voluntary liquidation, CVAs, administration and fixed asset receivership
Chapter 6, Pages 132–139
Personal insolvency – Claw-back of assets for creditors – including preferences and transactions at an undervalue
Chapter 6, Pages 125–129
Corporate insolvency – Claw-back of assets for creditors – including preferences and transactions at an undervalue, fraudulent and wrongful trading and setting aside a floating charge
Chapter 6, Pages 134–135
Chapter 4, Pages 70–71
Order of priority for distribution to creditors:
Personal insolvency
Chapter 6, Pages 129–130
Corporate insolvency
Chapter 6, Pages 135–136
Business Taxation Income Tax
Chargeable persons/entities (employees, sole traders, partners, shareholders, lenders and debenture holders)
Chapter 8, Page 161
Basis of charge (types of income/main reliefs and exemptions)
Chapter 8, Pages 161–173
Charge to tax: calculation of income tax in each of England and Wales and collection
Chapter 8, Pages 162–174
Scope of anti-avoidance provisions
Chapter 8, Pages 174–175
Capital Gains Tax
Chargeable persons/entities (sole traders, partners, and shareholders)
Chapter 9, Page 182
Basis of charge (calculation of gains/allowable deductions/main reliefs and exemptions)
Chapter 9 , Pages 182–197
Charge to tax: calculation and collection
Chapter 9, Pages 184–198
Scope of anti-avoidance provisions
Chapter 9, Page 198
Corporation Tax
Basis of charge
Chapter 10, Pages 207–208
Calculation, payment and collection of tax
Chapter 10, Pages 208–217
Tax treatment of company distributions or deemed distributions to shareholders
Chapter 10, Pages 213–216
Outline of anti-avoidance legislation
Chapter 10, Page 217
Value Added Tax
Key principles relating to scope, supply, input and output tax
Chapter 7, Pages 153–155
Registration requirements and issue of VAT invoices
Chapter 7, Pages 153–155
Returns/payment of VAT and record keeping
Chapter 7, Pages 154–155
Inheritance Tax
Business property relief
Chapter 9, Pages 198–199