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Selling Your Business

Are you thinking about selling your business, At SouthWest Accountancy we can provide you with the advise that will ensures tax total compliance and will help alleviate stressed linked with the selling.

Selling a business can be stressful and you want to be sure you are achieving the right price.we at SouthWest Accountancy can provide a well informed experience and comprehensive support.

We believe the following should be considered before putting your business up for sale:

Make sure you have good financial records

Keeping your financial records and information organised and in files

will help you to get a valuation quicker as potential buyers will want to

know the profits gained for the past 2-3 years and predicted profits

for the next 2-3 years. If you are going to create a sales forecast for

potential buyers make sure that they can be backed up by evidence

and are realistic.

Planning ahead

Companies need to be running smoothly if you are going to sell them,

so planning well in advance to get the company organised, efficient

and running to its maximum will help the company to sell easily.

Know your reasons for selling

Make sure that you have reasons to sell – buyers will want to know why you have decided to sell the business. They can range from wanting to try new things to a retirement fund.

Placing a value on your business

A professional valuation will give you a true idea of how much your business is worth and how much can make in profit from the sale.

Tax considerations

It is important to work closely with your accountant on Capital Gains Tax Liabilities, plus the difference between an asset sale & a share sale and what the different tax liabilities are.

Choosing the right broker to market your business

When looking for a broker to sell your business, you need to look at how much experience the broker has of selling businesses, their successes in selling similar businesses, what contacts they have with potential buyers, how they will market your business, the fees they charge and how they will keep the sale confidential.

If you are thinking about selling your business, contact us today and we can work with you in dealing with the tax implication resultant from the sale of your house. Confidentiality is one of the most important considerations in business transfer and we ensure that is a top priority in our service.

selling your business