SELLING A BUSINESS

We understand that selling a business is a complex process, laden with multiple financial, legal, and strategic intricacies. With years of deep expertise in providing premium accounting and tax services, we have curated a comprehensive service package that caters to every facet of this process, ensuring that the transition is as smooth and profitable as possible for our clients.

BENEFITS

  • We have extensive experience guiding clients through the complexities of Business Asset Disposal Relief. Formerly known as Entrepreneurs’ Relief before 6 April 2020, this relief is a significant opportunity for business owners to reduce their Capital Gains Tax (CGT) liability when disposing of business assets or selling their business.
  • If eligible, the rate of CGT can be reduced to just 10% on gains of up to £1 million over your lifetime, a considerable savings compared to the standard CGT rates of 20% for higher-rate taxpayers. This relief can be a vital part of exit planning for entrepreneurs, potentially saving you hundreds of thousands of pounds.
  • However, qualifying for Business Asset Disposal Relief isn’t straightforward. There are specific conditions to meet, including owning the business for at least two years prior to disposal, holding a minimum 5% stake in the business, and being an officer or employee of the company. Our expert team is adept at navigating these requirements, ensuring that our clients maximise their tax relief.
  • Investor relief is a lesser known, but equally valuable, tax relief aimed at encouraging investment in trading companies. It offers the same 10% CGT rate as Business Asset Disposal Relief, but without any upper lifetime limit, making it particularly attractive for larger investors.
  • Investor Relief applies to newly issued shares in unlisted trading companies that you have held for at least three years. Unlike other reliefs, you don’t need to be an employee or director, meaning it’s ideal for arms-length investors.
  • However, there are significant pitfalls to avoid. For example, receiving certain types of loans from the company can disqualify you from the relief. We offer the meticulous attention to detail required to navigate the complex regulations and maximise your tax savings.
  • Our experts work closely with business owners to conduct a thorough financial audit and business valuation, a critical first step in setting the right selling price for the business. We utilise advanced methodologies and leverage market trends to offer an accurate, fair, and competitive evaluation of your Business.
  • We also engage in detailed tax planning to optimise tax liabilities associated with the sale. By employing effective strategies such as structuring the transaction as an asset sale or a share sale, we aim to minimise tax implications while maximising your financial gains.
  • Understanding the critical importance of due diligence, our professionals review every potential deal with a fine-toothed comb. We work diligently to ensure that all financial statements, legal documents, contracts, and other relevant documents are in order, thereby mitigating risks and promoting transparency.
  • Finally, we collaborate with legal teams to ensure that all contracts and agreements associated with the sale are in order, thereby providing a seamless transition of ownership, ensuring compliance with all regulatory requirements, and safeguarding your interests throughout the process.
Why work with us?
At UK Tax Advice and Accountancy, we pride ourselves on our ability to help our clients leverage tax reliefs to their fullest extent and deliver bespoke solutions that align with the unique needs and goals of each business. Tax regulations can be overwhelming, and missing a crucial detail can be costly. That’s where we come in.
We handle the complexities so you can focus on running your business or managing your investments. Our goal is to save you time, reduce your tax liability, and provide peace of mind. Trust us to facilitate a successful, smooth, and profitable sale of your business.
We believe in personalised service, understanding each client’s unique circumstances, providing tailored solutions, timely service, and peace of mind. Navigate the selling your business landscape with confidence.