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]
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
Highly recommended solicitors. Our experience of using Barrett and Co has been very positive, responses have always been on time and informative. We won't hesitate to use again should we need to.
I found Barrett and Co to be extremely helpful during a very stressful time. Paul and his trainee Nicholas were always quick to answer any questions I had and never failed to reassure me. I am glad I put my trust in them and would wholeheartedly recommend their services to others.
As I suppose like most people, my legal requirements have mainly revolved around house purchases and Will writing. Therefore when out of the blue I needed legally binding contractual advice I turned to Justin Saddler at Barrett & Co who made everything simple and understandable. Whats more he was able to add a little humour to the situation to make the process almost enjoyable.
Like many people I only have rare occasions to visit a solicitor, which can be daunting due to preconceptions and the unforeseen nature of the visit. However, when I spoke with Justin Sadler on an employment issue he was very quick to gauge what my requirements were and was able to adjust his explanation of legal documents to a level I was comfortable with. His quick grasp of the situation and legal knowledge meant that in the limited time we had he could concentrate on the pertinent areas and I came away with a much improved understanding of the issue. I was also very grateful to Justin for putting some real world context around the situation. This really helped tie the legal situation to the reality along with some practical advice that not only gave me understanding of how flexible the process was but also kept potential costs to a minimum. I would recommend Barrett and Co for their practical approach and openness in their dealings. They are definitely there to support you as their client rather than just do the legal bit.
I’ve known Justin Sandler for some years now having advised on some employment redundancy issues plus some property boundary challenges for recently My first engagement with Barrett & co being in 2005 when I moved into the Reading area. Highly recommend for friendly and competitive charged advice and support .
Very support and efficient: I worked with Justin Sadler on a couple of employment law items. Justin is very knowledgeable, supportive and really put me at ease. I would highly recommend him & Barrett & Co.
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