At Malcolm C Foy & Co we can advise you whenever you are seeking to buy or sell a business. It is important to ensure that you have good legal advice from the start to avoid potential problems arising at a later stage. We can provide this advice whatever your business structure – sole trader, partnership or company.
In any business sale or purchase you will need advice from a number of professionals. In addition to legal advice it is important that you get advice on your tax liabilities, from your tax advisors on the accounts of the business and on the apportionment of the purchase price.
We are well connected in the local area and pride ourselves on being able to work as part of a team with other professionals to achieve your objectives.
When you are selling a business we can:
- in partnership with your tax advisors structure the deal to minimise your tax liability.
- advise you on the information which you need to disclose in response to the buyers enquiries.
- advise you on the content of the warranties and indemnities which you are being asked to provide and whether you should accept these or limit your liability under these.
- if you do not want anyone to know that the sale is taking place we can prepare a confidentiality agreement to be signed by all parties.
When you are purchasing a business we can:
- in partnership with your tax advisors ensure that the business assets are transferred in the most tax efficient manner.
- investigate the business and raise appropriate enquiries to discover whether there are any hidden liabilities.
- ensure that appropriate contractual warranties and indemnities are in place to protect you from hidden liabilities.
- ensure that the seller of the business does not immediately start up in competition to you.
- advise you on the most appropriate structure for your business once your purchase has completed.
If you would like to discuss a potential transaction or would like any further information then please contact one of our team using the details shown on this page.