For most small and medium sized businesses there will come a time when the owner or owners decide to sell.
This decision may be taken for any of a number of different reasons but the goal is usually to reap the benefits of the years of hard work spent in building up and running the business by receiving a financial reward in the most tax efficient way.
However, the process of selling a business can be a stressful experience. Moreover a good deal of forward planning is necessary in order to achieve the desired result and to minimise the tax liabilities. Such planning will also help prepare you to answer the extensive enquiries which the buyer and their solicitor will raise.
As part of the selling process you may require a "legal audit" to ensure your employment practices and procedures are up to date and in order. The process will certainly require a review of all of the organisation's contractual obligations and potential liabilities as well as a thorough review of its real and intangible assets.
Such reviews and valuations may well require the assistance of other professional firms or individuals such as accountants, banks, surveyors or business transfer agents. We are accustomed to working, in partnership, with other professionals to optimise your interests.
We can assist in the process of planning and, of course, with the sale itself.
For further information please contact Robert Beattie, Mark Roome or Gillian Jones.