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Thinking of selling all or part of your business?

26th September 2013 by Chris Bond

If you have spent your working life building your business, when you reach the point at which you are considering a sale, planning is critical.

VAT, corporation tax, income tax, stamp duty land tax, and capital gains tax are all standing in the wings waiting for you sign on the dotted line; so they can take a share of your hard-earned, sale proceeds.

Key areas that you will need to seek professional advice are:

• Do you need to strip surplus cash from your business prior to sale? What is the most tax effective way to do this?

• Are you selling all, or only part of your business? Do you need to consider demerging?

• If you are selling shares in your company will the sale benefit from Entrepreneurs’ Relief?

• Do you want to keep property owned by the business?

• If you have a group of companies would the group benefit from a formal reorganisation prior to sale?

• What impact will the sale have on any employee share options?

You may also need to consider that a potential buyer will be taking a close look at due diligence issues, particularly PAYE, VAT and corporation tax contingent risks.

In order to maximise the amount of post-tax sale proceeds you receive planning is absolutely key. We recommend that this be done before you instruct the selling agents and lawyers.
 

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This firm is not authorised under the Financial Services and Markets Act 2000 but we are able in certain circumstances to offer a limited range of investment services to clients because we are members of the Institute of Chartered Accountants in England and Wales. We can provide these investment services if they are an incidental part of the professional services we have been engaged to provide.

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