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

Continue reading the full document

To gain access to additional expert tax guidance, workflow tools, and tax research, register for a free trial of Tolley+™

TAKE A FREE TRIAL NOW

Popular Articles

Owner-Managed Businesses

Allowable deductions for employee-related expenses

Allowable deductions for employee-related expensesThis guidance note covers the tax treatment of some common types of trading expenditure relating to employees. Some of these are disallowable under general principles, for example the wholly and exclusively test or capital versus revenue expenditure.

14 Sep 2022 09:49 | Produced by Tolley Read more

Corporation Tax

Research and development expenditure credit (RDEC)

Research and development expenditure credit (RDEC)This guidance note provides information on how research and development expenditure credits (RDEC) are calculated and utilised. The Qualifying expenditure for R&D tax relief guidance note provides information on what expenditure qualifies for

14 Jul 2020 13:24 | Produced by Tolley in association with Will Sweeney Read more

Employment Tax

Non-business expenses

Non-business expensesIntroductionIn order for an expense to be tax deductible it must be incurred because of an employee’s employment. Any non-business related expense is, therefore, not relievable except in some very particular circumstances.This guidance note deals with three separate issues. The

14 Jul 2020 12:16 | Produced by Tolley Read more

��Ӱ��