Developing and nurturing a business requires skills and experience and we're privileged to work with many talented business owners across Scotland.

As a business owner, when the time comes, it’s important to plan the exit strategy for you and any other owners – whether that be a farming partnership where the family will (usually) take on the running of the business, or whether the business is just starting out, and will be sold in the medium term. When it comes to selling a business, the main objectives tend to involve:

• Getting the business ready for sale

• Maximising sale proceeds

• Rewarding those that have contributed to the growth

• Achieving a tax efficient answer for the business owners

• Providing security for family members

When selling your business, it's important to seek professional advice and support from your accountant; whether that’s in assisting in making the business more attractive to a potential buyer, or identifying potential interested parties and devising a strategy for sale. 

When a business is sold, the owners of the business often wish to reward colleagues who have contributed to their success. There are a number of tax efficient strategies available which can provide employees with a tax-favoured sum when the business is sold.

Of course, business owners also wish to maximise all available tax reliefs. In the right circumstances 10% capital gains tax is achievable, despite the restrictions announced in the Autumn Budget 2018.

Finally, the sale of a business can lead to the loss of generous inheritance tax reliefs. Before a sale takes place, business owners often wish to capture the benefit of any available business or agricultural relief.

Top tip: Selling a business is an important and complicated process. If you’re thinking of selling your business in the near or medium term future, get in touch with one of our advisers now.

View our other services

Sharp minds meet at any of our 13 locations

Arrange a free consultation with the team now

Have a general enquiry? Get in touch.