Selling a business in the UK can be an exciting journey for those looking for opportunities to expand their portfolio.<\/p>\n\n\n\n\n\n\n\n
From securing the best deal to navigating complex tax laws and regulations, it’s important to plan ahead and secure expert advice from qualified professionals who understand the marketplace.<\/p>\n\n\n\n
Taking the time to make sure all your bases are covered will help you achieve a successful sale.<\/p>\n\n\n\n
Prepare for the sale<\/strong><\/p>\n\n\n\n Just like selling a house, the business needs to be in excellent order, so prepare early. <\/p>\n\n\n\n Any disputes within the business should be settled. Make sure the premises are tidy and in good repair and ensure contracts and leases are in order.<\/p>\n\n\n\n Properly done, these could increase the value of the business.<\/p>\n\n\n\n Due diligence<\/strong><\/p>\n\n\n\n Any buyer seriously interested in your business will want to carry out rigorous due diligence to ensure they\u2019re getting a good deal.<\/p>\n\n\n\n Be prepared for this \u2013 any holes or glitches will quickly turn them off, so it\u2019s worthwhile getting an accountant to manage this step for you.<\/p>\n\n\n\n Prepare to negotiate<\/strong><\/p>\n\n\n\n When you have offers coming in, the first step to take is to make regular contact to avoid losing the deal before you\u2019ve had the chance to negotiate.<\/p>\n\n\n\n Invest in the future<\/strong><\/p>\n\n\n\n Finance can often make or break a deal.<\/p>\n\n\n\n Sellers should consider providing finance to facilitate payment in instalments and a period of ongoing support to the buyer of their business to increase confidence and ensure the likelihood of future success.<\/p>\n\n\n\n Tax implications<\/strong><\/p>\n\n\n\n If you make a profit when you sell your business, you\u2019ll need to pay Capital Gain Tax (CGT) on anything over your tax-free allowance.<\/p>\n\n\n\n However, some tax reliefs can lower the expense:<\/p>\n\n\n\n Take care to put everything in writing. Follow up discussions made over the phone with an email that you can refer back to, should there be any disagreements further down the line.<\/p>\n\n\n\n If you have found this article useful, it is the latest in a series of blogs on business advice.<\/p>\n\n\n\n Need help with selling your business? Our team can smooth the process. Contact us today.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Selling a business in the UK can be an exciting journey for those looking for opportunities to expand their portfolio.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26,33],"tags":[],"class_list":["post-19913","post","type-post","status-publish","format-standard","hentry","category-blog","category-business-blog"],"yoast_head":"\n