Exiting your business:
Consider the structure of your business
A business can operate as a sole trader, a partnership, a limited liability partnership or a limited company, and you should consider the legal structure of your business at an early stage. For example, it might be easier to sell a company than an unincorporated business because a business can appear to be too closely associated with its owner.
If you think you might want to sell only a part of your business, or one of several trades, you should consider putting that trade and the assets of that trade in a separate company. There are various exemptions from tax available where a group reconstruction or reorganisation takes place, or assets are transferred around a group, but tax benefits may be lost where, within a certain time of the event (up to six years), the company is sold.
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Where next?
Within Planning your exit…
- Planning the timing
- Management issues
- Review your management information systems
- Grooming your business for sale
Within Exiting your business…
- Selling your business
- Floating your company
- Exiting a partnership or minority shareholding
- Family succession
- Closing down
- Tax issues
General...
- Contact us about this issue
- Read about how we can help you & your family
- Request a meeting with us
