Second Floor Barlow House Minshull St Manchester M1 3DZ Tel: 0161 906 0789 Fax: 0161 906 0799 Email: neil@neil-millar.co.uk

Business Sales & Purchase

An alternative to setting up a new business is to acquire an existing one, or to expand your business by making an acquisition. On the other hand it may be the right time to retire or benefit from selling your successful business. If you are contemplating a sale or purchase you need to speak to your professional advisers at the outset. Both your Solicitor and your Accountant have important roles to play in the transaction. They should be working together with you as a team, with each of you having defined areas of responsibility. The question of whether the transaction is to be a sale or purchase of shares or assets of the business needs to be considered together with the tax consequences. Initially, on a sale you will want the prospective buyer to enter into a Confidentiality Agreement to protect your interests until a binding agreement is reached. As a buyer, you will want to make detailed enquiries of the seller to find out as much information as possible about what you are buying - a process known as "due diligence." Of paramount importance is the funding of an acquisition. How the purchase is funded affects the course that the transaction will take and the charges involved. For further advice and information use the contact form, or telephone 0161 906 0789.