Advice you can trust
We provide tax advice on a range of issues faced by small and medium sized businesses, entrepreneurs, and investors.
Buying a company
There are different ways to buy a company, you can either buy the trade and the assets or you can buy the shares. Each have their own implications on stamp duty, stamp duty land tax, capital gains tax, capital allowances, corporation tax, and various other taxes. It is important to seek professional tax advice when buying a company to ensure you are fully aware of the tax implications of the deal, and that its structured in a way which is tax efficient for you as the buyer.
Selling a company
As per the above, there are also different ways to sell a company. It’s very important to seek professional advice when selling your company because it is very easy to fall into a trap that leads to double taxation. We have seen this in the past with people that did not seek any tax advice when selling a business they spent many years developing, and unfortunately once a deal is done there is not much that can be done about the impending tax implications.
There are different mediums in which to operate your business. You can either operate as a sole trader, partnership (if more than 1 person), limited liability partnership, or limited company. Operating through a limited company is not always the most tax efficient method, despite the advice you may hear at the pub! We can perform tax analysis based on your business profit figures and the amount of money you need to draw from the business to ensure your business is structured in the most tax efficient method.