Robert Pullar’s Post

Millions of pounds of value can be gained or lost through the tax charge when a business is sold. Effective tax planning is crucial.   The tax landscape is complicated and changes regularly. With the October 2024 budget raising capital gains tax rates and altering business reliefs for business owners, entrepreneurs must carefully consider their tax position. Early planning, sometimes up to two years in advance, is essential to maximise your wealth and avoid disappointments later.   Helen Relf, Transaction Tax Partner at RSM, explores some of the tax planning options for your business sale.   Get in contact directly with Helen for more or access resources here: https://lnkd.in/ex8dq2Yf

Tax is a minefield at the best of times but when selling your business there can be so much more to consider. The link below gives you, not only some pointers on things to consider from a tax perspective when selling your business but also from positioning, to your people and of course the financials and data side too. We are here to help ensure your business is showcased in its deserved light. Therefore, please do reach out if you would like further guidance. https://lnkd.in/eKDH8Vas

For business owners looking to sell and wondering/worrying about tax, please take a look at the short video below from Helen 👇 📺 ✅ If you’re looking for some support or even just an initial chat, please get in touch with Helen, me or anyone from the Transactions Tax group at RSM UK.

Insightful video in which Helen outlines essential considerations for business owners aiming for a tax-efficient sale.

Helen Relf discusses the importance of business owners planning ahead in order to optimise post tax value from a transaction. Changes to the tax regime affecting transactions and successions in the October budget may influence approach. Looking forward to sharing more insights throughout the week. #transactions #tax

Great short video from Helen highlighting the commercial importance of taking tax advice early when a transaction is on the horizon.

Selling a business to an external buyer is typically the most lucrative exit strategy. However, it can also be the most expensive in terms of fees and taxes (this is why deal structure is so important). This post gives a quick overview of possible tax implications. Worth a quick read! #sellyourbusiness #sellmybusiness #businessvaluation #exitplanning #businessbroker

"We Could Close the Business Tomorrow and Sell Everything Off" – A Common Thought, But What About the Tax Implications? This is something we hear regularly, but before you decide to close up shop and sell off your assets, it’s important to consider the UK tax implications. Capital Gains Tax- Selling business assets can trigger Capital Gains Tax. Depending on the gains, you could face a significant tax bill, especially if you don’t qualify for reliefs like Business Asset Disposal Relief (formerly Entrepreneurs' Relief). Income Tax- If you decide to distribute remaining funds to shareholders, those amounts could be subject to Income Tax, depending on the method of distribution. Liquidation Costs- Closing a business through liquidation has its own costs and tax consequences. A Members’ Voluntary Liquidation (MVL) might be tax-efficient, but it requires careful planning. Alternative Options- Rather than winding down, there might be more tax-efficient ways to exit your business, such as selling as a going concern, which can reduce your overall tax burden. Want to explore the best approach for your situation? DM us on here for assistance on navigating the tax implications when selling or closing your business.

𝗜𝘁 𝗱𝗼𝗲𝘀𝗻'𝘁 𝗵𝗮𝘃𝗲 𝘁𝗼 𝗯𝗲 𝗰𝗼𝗺𝗽𝗹𝗶𝗰𝗮𝘁𝗲𝗱. I never recommend changing WHAT you buy to increase your tax savings. But I always recommend evaluating WHEN you buy. If you anticipate business profits will push you into a higher (or lower) tax bracket in a subsequent year, then you can save yourself thousands by simply adjusting the timing of a purchase. 👉 As we head into the second half of the year, it's the perfect time to project your future tax rate and strategically plan the optimal time to make a business purchase. ⬇️ $3,200 in tax savings ⬇️

"We Could Close the Business Tomorrow and Sell Everything Off" – A Common Thought, But What About the Tax Implications? This is something we hear regularly, but before you decide to close up shop and sell off your assets, it’s important to consider the UK tax implications. Capital Gains Tax- Selling business assets can trigger Capital Gains Tax. Depending on the gains, you could face a significant tax bill, especially if you don’t qualify for reliefs like Business Asset Disposal Relief (formerly Entrepreneurs' Relief). Income Tax- If you decide to distribute remaining funds to shareholders, those amounts could be subject to Income Tax, depending on the method of distribution. Liquidation Costs- Closing a business through liquidation has its own costs and tax consequences. A Members’ Voluntary Liquidation (MVL) might be tax-efficient, but it requires careful planning. Alternative Options- Rather than winding down, there might be more tax-efficient ways to exit your business, such as selling as a going concern, which can reduce your overall tax burden. Want to explore the best approach for your situation? DM us on here for assistance on navigating the tax implications when selling or closing your business.