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 approached several local companies about advice on an employment matter. Barrett and Co were, by far, the most responsive and flexible. The advice I received from Justin Sadler was timely, expert, professional and concise. Thank you for a great service.
Based on my experience I would have no hesitation to recommend Barrett and Co to any friend or family member in need of legal services. Further, any legal service is only as good as the people within it and the people at Barrett and Co are brilliant. They are helpful, communicative, understanding and patient. They explain the options and when legal language is required and necessary they are willing to sit down and explain what it mean in plain english. Great people and a Great service,
Paul was really responsive, supportive and answered all my questions in a really honest and professional way. It was a pleasure working with him and i would recommend him to anyone needing a solicitor. Thank you Paul
I have worked with Justin Sadler several times and he always responds really well with easy to understand advice
Vanessa drew up my will after a video consultation (due to Covid 19) and then I got it signed and witnessed in the office car park maintaining social distancing. My will was very straightforward but Vanessa ensured that all necessary areas were considered and addressed. I received a very professional, courteous service and I would certainly use Barrett and Co again.
Dealt with Chris Miller who was fantastic from the start. Clear assessment of the issues and risks with great guidance and proactive communications. Chris is a very valuable asset and I would recommend him fully. The only issue I had was with the bill which was not clear and had to be adjusted. We won the case with costs awarded but it still cost us the best part of £1400, not sure how that works....
Justin Sadler provided an excellent service in relation to an employment matter. His clear and concise guidance provided me all the necessary assurance and support to conclude the matter. The rest of the team at Barrett's, where also very professional and highly responsive in the short time I had available to reach a conclusion. Barrett's certainly instilled a strong sense of trust and would definitely be my first choice for any future legal matters.
From start to finish these guys made me feel at ease during a turbulent time. First class service from all who I death with so I highly recommend them.
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