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]
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.
Vanessa Ruparel helped me to write my will after I re-married. She also sorted out my uncle's probate, which was more complicated than we anticipated. I have used Barrett & Co before many years ago when I divorced, so I didn't hesitate to use them again. They always give a quote up front for their work and if there are any problems and costs change they inform you and get your approval. I would never hesitate to recommended them (and I have done so). Thank you for all your help.
Used Barrett and Co extensively with my business and recently for a personal matter, excellent service on all occasions, you only get what you pay for, would have no hesitation in recommending their services. A big thank you to Vanessa for all her advice and assistance.
Sometime ago I used Barrett and Co to create a will using Will Aid and it was a friendly and simple process. I have recently been made redundant so I went for an hours fixed fee meeting to discuss my settlement agreement, again this was a very informative meeting and helped me understand the process and provide me with useful questions to ask.
Paul Wild is the best solicitor you can wish for. I benefited from his crucial law experience and wisdom. Excellent customer service.
During the process of repossession proceedings against my tenant I felt reassured by the open and honest advice I received from Chris Miller. I was impressed by the efficient, professional and friendly service. I can highly recommend this company.
I had a very delicate but deeply personal matter that I needed professional legal help with.in short it involved a matter of my father's will,inheritance and money owed to me from a sibling.After much research I contacted Justin at Barrett and co.After an hours consultation with him and Hilary Buckle I gained the confidence to take further steps.it was in their mannerism and approach and they even gave me a written quote detailing exactly what stage they would charge me for ,and even this quote was much lower than other specialst solicitors .They were so considerate with me and their reputation so high that my sister instantly gave me large sum of money owed to me and as a bonus all siblings have begun mending our relationship.
I used Barrett and Co for my will via the Will Aid scheme. They were very professional, efficient and friendly. They took time to explain things simply and effectively - offering advice on the implications of different scenarios and ensuring I 'future proofed' my will. Very pleased with the service all round. Charlotte Fox was excellent.
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