Withdrawal from a business

There comes a time in most peoples’ lives when they start to consider retirement and thus may be looking to withdraw from their Business.  This could mean selling the Business, passing it on to future generations, handing over the business to staff members or winding up the Business entirely.

Whatever your plans, our team can advise you on:

  • Tax considerations in selling the business or in passing it on to others to run
  • Tax efficient methods to get the money out of the business
  • Pros and cons of formally winding up the business
  • The process which has to be gone through to complete the formal winding up including putting you in touch with experts to deal with this on your behalf
  • Advising HMRC of the cessation and dealing with any resulting enquiries

In some cases, the winding up of a business is not your decision and your circumstances could require action which would not usually be considered.  Often the cessation of involvement in a business can be hard for individuals and our team will advise you in a sensitive manner considering practical implications for you, in addition to, the financial and legal aspects.