Memorandum of association- is a generic one good enough?

[VFV]

Hi all,

I am about to set up my own Ltd, and plan to use a generic memorandum of association. I read in a guide in another website for contractors that i should use an expert 'who could add significant conditions' and also that the memorandum can have 'a significant role in IR35 investigations'.

Any idea about these two statements? My feeling is that a generic template is fine and that accountants try to make their service look necessary, but any advice would be welcome

Thanks

[Clare@InTouch]

Generic is fine.

It will have no impact on IR35, and unless there are multiple shareholders there's no need to make changes to the model set to incorporate any restrictions. If you do have business partners you can handle all the legalities in a shareholder's agreement at a later date.

IR35 is decided on working conditions.