Selling the family business ― overview

Produced by a Tolley Owner-Managed Businesses expert

Owner-Managed Businesses

Guidance

Selling the family business will be a transaction which is commercially driven but can have significant tax implications. The guidance notes in this sub-topic review the tax areas to consider when the business owner is considering selling their business ― these are summarised below with links to more detailed commentary.

Pre-sale planning

The owner of the business may have a clear plan on how they intend to realise value from their business and therefore there can be an opportunity to look ahead to ensure the best business structure to accommodate their plans. This could include bringing a spouse or civil partner into the business, separating different trades into different companies, protecting a property by moving it into a holding company or demerging a company between different shareholders. These areas are covered further in the following guidance notes:

•
Transfer of a trade
•
Share for share exchange
•
Demergers ― overview
•
Reconstructions
•
Planning between spouses and civil partners

Trade and assets sale or share sale

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