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Business Sale or Purchase
Business Sale or Purchase
The sale of a business is for many the culmination of years of work and planning for an owner managed business. The whole process from the negotiation of an offer to the eventual receipt of the sale proceeds is very different from the day to day management of the business. It can be a time-consuming exercise which should be managed carefully and for many, it will be a once in a lifetime experience.
Whether you are planning to sell your business or make an acquisition, we at Banks & Co are experienced and familiar with the process of working with our clients throughout this journey.
From the initial plan to sell, we can advise you on the steps you may need to consider to make your business more attractive to a potential purchaser. Our knowledge and experience will allow us to advise you on the structure of the sale, for example an asset-based or a share-based sale, and then work with and your lawyers throughout your negotiations towards a successful sale.
For a proposed acquisition, we can assist with research into possible target companies. As enquiries proceed, we will undertake a close examination of accounts and management information, tax computations and other financial records requested as part of the due diligence process, to enable you to make an informed decision. We will work with you to identify the most appropriate vehicle and structure for the purchase, assisting you with negotiations. We will work with your legal team or introduce you to one of the many legal firms we regularly work with.
To discuss how we can help you, please contact us.
Our staff can make sure you maximise your exemptions while demystifying the complex world of capital gains tax, whether you're considering investments, a second home, or another asset.
Every year, corporation tax rates and reliefs vary, so we make sure we can offer all the necessary assistance and advice when examining potential exemptions, allowances, and deductions. In order to make sure you are in compliance and avoid fines, we will carefully evaluate and produce corporate tax filings.
Whether you're considering investments, a second home, or another item, our staff can make sure you maximise your exemptions while demystifying the complex world of capital gains tax.
We can help walk you through the complicated subject of personal taxation, we are aware that it can be challenging to grasp, therefore we support you every step of the way. By developing a tax planning approach that works for your tax situation and helps ensure you pay the least amount of tax, we eliminate the time and worry involved. Our staff will provide guidance on when payments are due in addition to what paperwork must be submitted and returned in order to maintain compliance.
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HMRC have proposed a new criminal offence for making reckless, untrue statements or declarations about what's known as 'direct taxes' - Income Tax, National Insurance and the like. For Customs and Excise and VAT ('indirect taxes'), it is already possible to prosecute individuals who make untrue statements or submit incorrect documents either knowingly or recklessly, without the need to prove dishonesty. The penalties for such offences can be severe, including substantial fines and imprisonment. The direct tax regime does not currently contain an equivalent offence.
