SQE2 - Business Outline


SQE2 - Business Outline

Are you overwhelmed by the masses of information you are expected to know?

Are you short on time to make notes?

Do you just want a summary of the functioning legal knowledge that you need to know?

Then, you are in the

Functioning Legal Knowledge for SQE2 - Business

contains summaries in bullet-point format of:

All topics listed by the SRA in the FLK for Business

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Why SQE2 Outlines?

Have a quick reference to revise from

Created by someone who passed the SQE2 first time

Value for money & affordable

What does the SQE2 Business Outline cover?

The SQE2 Business Outline contains the entire functioning knowledge specified by the SRA in relation to Business for the SQE2:

Business organisations, rules and procedures

(Excluding the Listing, Prospectus, Disclosure Guidance and Transparency Rules and any other FCA, London Stock Exchange, market rules or codes)

Business and organisational characteristics (sole trader/partnership/LLP/private and unlisted public companies).

Legal personality and limited liability.

Procedures and documentation required to incorporate a company/form a partnership/LLP and other steps required under companies and partnerships legislation to enable the entity to commence operating:

  • constitutional documents
  • Companies House filing requirements.


  • funding options: debt and equity
  • types of security
  • distribution of profits and gains
  • financial records, information and accounting requirements.

Corporate governance and compliance:

  • rights, duties and powers of directors and shareholders of companies
  • company decision-making and meetings: procedural, disclosure and approval requirements
  • documentary, record-keeping, statutory filing and disclosure requirements
  • appointment and removal of directors
  • minority shareholder protection.

Partnership decision-making and authority of partners:

  • procedures and authority under the Partnership Act 1890
  • common provisions in partnership agreements.

Insolvency (corporate and personal):

  • options and procedures - CVA/IVA, bankruptcy, administration, fixed asset receivership, voluntary and compulsory liquidation
  • claw-back of assets for creditors – preferences, transactions at an undervalue, fraudulent and wrongful trading, setting aside a floating charge
  • order of priority for distribution to creditors.

Taxation - business

Income Tax:

  • chargeable persons/entities (employees, sole traders, partners, shareholders, lenders and debenture holders)
  • basis of charge (types of income/main reliefs and exemptions)
  • the charge to tax: calculation and collection
  • the scope of anti-avoidance provisions.

Capital Gains Tax:

  • chargeable persons/entities (sole traders, partners, and shareholders)
  • basis of charge (calculation of gains/allowable deductions/main reliefs and exemptions)
  • the charge to tax: calculation and collection
  • the scope of anti-avoidance provisions.

Corporation Tax:

  • basis of charge
  • calculation, payment and collection of tax
  • tax treatment of company distributions or deemed distributions to shareholders
  • outline of anti-avoidance legislation.

Value Added Tax:

  • key principles relating to scope, supply, input and output tax
  • registration requirements and issue of VAT invoices
  • returns/payment of VAT and record keeping.

Inheritance Tax:

  • business property relief.

What is the SQE2?

The SQE2 exam is the second of two "super" exams required by the Solicitors Regulation Authority in order to qualify as a solicitor of England and Wales.

The SQE2 exam contains the following assessments:

  • Written Part
    • Day 1 - Dispute Resolution and Criminal Procedure
    • Day 2 - Property and Wills
    • Day 3 - Business Law
  • Oral Part
    • Day 1 - Dispute Resolution and Property
    • Day 2 - Criminal Procedure and Wills

Each day of the written part includes:

  • Case & Matter Analysis (60min)
  • Legal Writing (30min)
  • Legal Research (60min)
  • Legal Drafting (45min)

Each day of the oral part includes:

  • Advocacy (45min prep and 15min presentation)
  • Client Interviewing (10min prep, 25min interviewing, and 25min writing an attendance note by hand)

Who will teach me?

madeleine weber

Hi there

My name is Madeleine Weber!

I have been working as a legal professional for half a decade, predominantly in the IT industry as an in-house counsel in the UK.

I qualified as a solicitor via the transitional arrangements by sitting the QLTS MCT and the SQE2.

I passed the first ever SQE2 exam on my first attempt in 2022.

Whilst preparing for the exam, I really wished I had concise revision notes to revise from. I didn't have much time to make revision notes, and the notes I purchased from the prep course providers were incredibly lengthy.

That is what inspired me to write out concise and easy to follow notes based on the Functioning Legal Knowledge required by the SRA.




What else do I need to pass the SQE2?

This is a very subjective question and will depend on your background and education. 

I personally would recommend to purchase a SQE2 preparation course, as this will provide you with all the tools to have the best chance to pass on your first attempt. 

My SQE2 outlines should be relied on as supplementary revision aides. 

How long will I have access to the material?

You will have access for 1 year from the date of purchase. 

What exactly is contained in the outline?

A summary of all the topics listed by the SRA in relation to criminal law and procedure that may be tested on the SQE2. 

Will I be able to access the material offline as well?

All materials are downloadable and usable offline.

The course is provided via Teachable. All materials will be available on all your devices either via a web browser or via the Teachable app. 

What is your refund policy?

If you are unhappy about any aspect of the course, do let me know and I will do my best to sort the issue out for you.

Otherwise, there is no refund policy for this item.