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 decided to update my Will recently and Vanessa at Barrett and Co Solificitors kindly helped. Extremely professional, friendly and understanding and put my mind at complete ease. Cannot thank them enough or rate them more highly. THANK YOU!
Justin provided me with legal council on behalf of Barrett and Co. I would highly recommend the initial consultation, as this helped outline the matter and provide me with possible options. Justin is personable, clear and concise and I would definitely recommend his services.
'I had no prior knowledge of this firm, until I telephoned the office based on Google reviews and with only a few days left prior to the case unfolding, the pressure was really on!! The approach of every staff member was gentle, caring and unusually courteous. I was terrified at the prospect of my chances, especially as the other side had considerable experience in court. Both Justin Sadler and Chris Miller were warm, sympathetic, calm and completely unperturbed; they immediately suggested a way forward and then recommended their choice of Counsel. I had my doubts and was like a rabbit in headlights; Chris carefully guided me through the process and kept me calm throughout. The result was an outright victory. An amazing result, delivered with care, attention and I was charged less than the amount of work actually delivered! A highly unusual firm of solicitors. Huge thanks to Chris/Justin.
Would like to place on record my thanks to Chris Miller who worked on our case. Great support and hard work to ensure we came out with a positive outcome. Would not hesitate to contact or recommend Chris, Justin and team to help with any future cases. Thanks again, Joe
I have recently used Barrett & Co to assist me with my divorce and can only say good words about the experience. Paul Wild especially not only provided reassuring advice, but his professionalism (and indeed, that of everyone at Barrett & Co) made me feel supported throughout the whole process, and left me with the feeling that he genuinely cared about my situation. The level of dedication displayed by not only Paul but also Richard Ince in the conveyancing team was top notch, in particular when turning work around within tight timescales, and keeping me appraised throughout so nothing came as a surprise. I will definitely use Barrett & Co for any legal needs in the future - very highly recommended!
Barrett & Co come highly recommended. I recently worked with Alan Warnes on a property sale that was very complicated due to changes in the lease, and dealing with difficult and lengthy queries from the buyer's solicitors, and Alan guided me expertly through the process. His tenacity, patience, legal expertise and good humour were greatly appreciated. I have used Barrett & Co's services for previous property purchases and sales, for declarations of trust, and one of the partners also became executor to my parent's estate several years ago. They are very professional, and also warm, friendly solicitors to work with. I would not hesitate to engage them again if the need arises.
Thanking Justin Sadler and Chris Miller for being so welcoming, understanding, supportive, very dedicated to our situation. They are very professional and a very committed legal team! Also the receptionists were always welcoming and kind. I would highly recommend Barrett and Co Solicitors in the first instance!
I had Justin Sadler work with me, giving excellent advice and general support with a very difficult, complex case against an ex-business partner. Happy to say that I got a full settlement before going to court, as with that advice, I was in a very strong, empowered position to emphatically 'win' my case without incurring additional court costs!
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