Cessation of Business; How to bring your business venture to a close with the best possible result for you.
Exiting a business or bringing a venture to a close is not something that is often thought about in advance. However, having carefully prepared plans and considering the important questions well beforehand will remove many of the uncertainties and can considerably speed up the process as well as reducing the stress involved.
One of the biggest concerns for anyone exiting a business venture is tax. We can help to structure and time deals to take maximum advantage of the available tax reliefs. Often substantially reducing and in some cases negating altogether your tax liability.
We can provide expert advice whether you operate as a company, partnership or sole trader on all areas including:
Selling as a going concern
This is often the easiest and most tax efficient way to exit a business as it often benefits from a number of reliefs especially if you will be putting those funds into a new business venture.
We can advise whether you will be able to take advantage of the very favourable 10% tax rate known as “Entrepreneurs Relief”.
Advising on Employment issues: Such as; redundancy, settlement agreements and TUPE
The team often works closely with our specialist employment and litigation Partner Justin Sadler, for further information on these particular issues please visit our Employment Law (for businesses) page or email Justin at [email protected]
Unwinding Partnerships and Joint Ventures
Whether your reasons for bringing a business venture to a close are amicable or less so, we can help by advising you on the necessary procedures and will act to safeguard your individual interests. We can also take action to deal with defaulting or dissident parties to protect the interests of all participants.
Dissolution of limited companies and complying with all legal and regulatory requirements
It is important to get expert advice at the start of the winding up process to ensure that all aspects are considered and all loose ends will be tied off. So that when you move on you can be confident that nothing will be coming back to haunt you.
Building exit strategies into the business from the ground up
By properly utilising the business’s Articles of Association, Shareholder agreements or Partnership agreements it is possible to incorporate viable exit routes into the business and protect shareholders, directors, partners and key personnel by utilising the most appropriate insurance products. However far down the road your business is, we are confident that we can assist you.
We have a wealth of experience from dealing with both commercial and personal insolvency matters; we also have excellent relationships with some of the best insolvency practitioners in the area. As with many things, the earlier an actual or potential insolvency issue is addressed the better the potential outcome will be. For more information please visit our Insolvency page.
Advising on Commercial Property issues such as; Leasehold and Freehold conveyancing
Our Commercial Property department offers a comprehensive service from acquisitions and disposals of freehold and leasehold properties to contract and lease negotiations and infrastructure and planning agreements. The department acts for a wide range of clients, from high street businesses to multinational companies and predominantly for the private sector.
Selling off individual assets or departments
Sometimes it is necessary to sell off assets or departments that are no longer part of the future strategy of the business. Barrett & Co is able to offer a complete service advising on all necessary Commercial, Property and Employment Law aspects of the transaction.
Get in Touch
Our Property and Commercial Department is headed by Martin Reynolds who regularly advises on a broad range of property and commercial matters including business sales and acquisitions, commercial property and high value residential transactions. To contact Martin and his team; call 0118 958 9711 or email [email protected]
I had a general conveyancing query and needed a second opinion. The response was so quick and the reply was really informative with a surprising amount of detail, but delivered in plain English (no legal jargon) that even I could understand. If I could start this whole buying and selling process again I’d have gone with Barrett and Co rather than the solicitors I’ve gone with.
Thank you Charlotte for the help and advice you gave us. The work was carried out quickly and efficiently and our meetings with you were a pleasure. I would certainly suggest Barrett and Co if asked for a recommendation.
Barrett and Co has been our family solicitors for over 20 years for various legal matters, including, immigration, purchasing properties, tenancy disputes, wills and recently employment related matters. This includes our extended family too. We would without any hesitation recommend Barrett and Co and in particular, Justin Sadler and his team for legal matters. Very helpful team of solicitors, knowledgable, friendly and understanding. On every occasion, from the initial contact to the resolution, it’s always a pleasure to work with them and no complaints at all. Easy to contact, updates where needed and the charges are well explained and reasonable too. Even though we live in Ascot, we find it easy to do most of the paperwork remotely and only visit the branch when it’s absolutely necessary. Thanks again and a very happy client.
I would definitely recommend Barrett and co-solicitors to anyone! I recently engaged Charlotte Fox to get a will put together and I must say that Charlotte made it an fast, effortless and painless process for me.. pricing was very competitive and I received regular communication and some great advice from her that ensured the will represented exactly what I needed. I have used other solicitors in Caversham in the past and I must say my experience with Barrett and co has been the best by far.
I found these solicitors very helpful in drawing up my will. First class service and a pleasure to deal with.
Not having spoken with Solicitors for many years we viewed our visit to Barrett and Co. with some trepidation but were completely put as ease by both Charlotte's with the advice and understanding given by them when requiring advice on changing our Wills and other associated matters. These matters were discussed thoroughly with ourselves throughout and completed very promptly. We would certainly recommend their services and have no hesitation in using them again, should the need arise.
Charlotte Fox handled my father’s Will in a professional and timely way. I would recommend them as solicitors for their excellent service
Excellent service and advice I would certainly use Barrett and Co again. Justin was very professional and knowledgable enabling me to achieve my desired outcome and cannot thank him enough. N
Services for Business Testimonials
"Let me be the first to thank you from the bottom of my heart for all the work you have helped us through to get us here. It has been an amazing journey and I have personally learnt so much and hope that I will be able to continue to learn from you. I hope that you understand that you are by no means now rid of me/us. I look forward to our meeting on Thursday regarding the GDPR process we are going to have to follow. Thanks again and you can certainly take a bow!!!"August 2018– Willie Uys, Board Member, World Transplant Games Federation
"We have used Barrett & Co for a number of years for both commercial and employment issues. Most recently they have reviewed and updated a number of our precedent contracts to reflect the company's evolving business model. Simon, Justin & Rob are a pleasure to deal with and always focus on what we, as a client need to achieve. I would recommend Barrett & Co to any business, whether new or established, but especially those considering a brand new venture."July 2015– Louise Dunn, Managing Director, Auriga Consulting
"Justin's professional advice to me was extremely valuable and was delivered in a timely and thorough manner. The matter was resolved with a very positive outcome and so I would not hesitate to recommend him."February 2015– Peter