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.

Share sales

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.

Insolvency

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 CommercialProperty 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]

  • 5 star review  Dealing with Barrett&Co was excellent from the start. They were very swift in providing initial information and booking an initial zoom meeting. I dealt with Justin Sadler who took time to understand my situation and was clearly both knowledgeable re the situation and also honest about what I could expect. Will use again and thoroughly recommend.

    thumb James Regan
    11th January 2022
  • 5 star review  I've dealt with many solicitors in the past 10 years in various areas of law and I must say Barrett come 1st place for me. Great care and attention. **Meant to have mentioned Charlotte Fox was the lady that took care of my affairs.

    thumb simon grigg
    7th January 2022
  • 5 star review  We came across Barrett and Co Solicitors via a free Will writing scheme. Mrs Ruparel was very professional yet friendly; the whole process was very straightforward as she explained all the steps and areas for consideration clearly. The legal support team were also very helpful in answering any queries we had.

    thumb Michelle Smith
    27th October 2021
  • 5 star review  Emma is great! She is patient and responsive. I really feel like she had been on my side fighting for our benefits and giving us comfort and encouragement when issues arose. She has been doing a very good job! Barrette and Co is professional and well-established! Thumbs up!

    thumb Mi Mak
    19th October 2021
  • 5 star review  When informed by your employer that your employment contract is to be terminated because of a restructuring and not through any fault of one’s own – and probably not knowing what to do or who to turn to - it’s a lonely, disorientating, and unsettling place to be - as anyone in a similar position reading this will fully understand. When this happened to me, I didn’t know who to turn to. But a colleague recommended Barrett and Co, and so I checked out the website and was impressed with what I read about Justin Sadler and his experience. Justin and his assistant were quick to respond to my inquiry, and a consultation call was set up which was extremely useful. Justin quickly grasped my situation and was able to provide me with sensible and pragmatic legal advice as well as a tactical approach on how to proceed, and very importantly - advice on how to best channel my feelings. I had a legal stalwart in my corner. In short, we achieved as good an outcome as was possible in the circumstances and I am very grateful to Justin for all his help and advice. If you need employment related legal advice - look no further than contacting Justin Sadler at Barrett and Co.

    thumb Clive Lewis
    4th October 2021
  • 5 star review  In the run up to completion, Emma and her colleagues were taking very good care of us. Despite many challenges throughout the day, including a tricky chain + backlog in banking transactions, Emma was always on hand with a friendly word and answering our queries quickly and professionally etc.

    thumb Chris Horsnell
    1st October 2021
  • 5 star review  I have recently used Barrett and Co Solicitors for a multiple legal issues needing to be resolved and also creating a will. I found them to be very good and professional, the majority of the work being carried out by Juliette Spanner who has very knowledgeable, professional and courteous. From my experience I will be using them in the future again.

    thumb Jake Nixon-Kotowicz
    8th August 2021
  • 5 star review  There are so many positive things I would like to say about Barret & Co. For me to do that would take too long. I will say, however, that Barrett & Co provided a first class service that resulted in a very positive & successful outcome . The service we received was akin to the service you would expect from a large city solicitor. If you are looking for a professional efficient multi discipline solicitor ,then I strongly recommend that you look no further. Thank you Barrett & Co ,with a special thank you to Jane Whitfield, for all that you have done for us & for taking away all the worry.

    thumb Alexander Pritchard
    4th August 2021

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