Top Tips for Therapy Businesses...
If you are considering setting up a new therapy or psychology private practice business, there are a few important legal issues that you need to consider. Check out the Aubergine Legal checklist and get in touch if you need any detailed advice or assistance.
What will be your legal structure? Will you be a sole trader or will you set up a limited company? You will need to weigh up the pro’s and con’s. Do you want a simplified accounts/reporting structure, or do you need the protection of a limited company to separate your personal assets from the business?
Get an Accountant! Have you spoken to an accountant with respect to the best way to structure yourself from a tax perspective?
Insurance. Consider what professional indemnity and public liability insurance you require to protect you and your business.
Regulatory Compliance. Check out the specific requirements of your regulatory body and make sure that your business is complying and your legal documents are in line with any requirements they impose on your type of business.
Are you GDPR compliant? You need to be registered with the Information Commissioners Office (the ICO), and you need to ensure that you are complying with GDPR when processing other peoples personal and special category data (which includes health data).
Do you need to protect your brand? If you have a new name or logo that you feel others may try to copy, you can consider protecting it using a trade mark registration at the Intellectual Property Office.
Aubergine Legal have been advising numerous businesses on all of the above and would love to hear from you if you need any specialist advice.