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Business Exit Strategy

Member’s Voluntary Liquidation
If your client no longer has a need for their business e.g. there is no succession or they are looking to retire, it pays to have the correct business exit strategy in place. This will help them exit the business in the most tax efficient way, otherwise any final drawings could be subject to a 40% tax rate.

Many accountants will be aware of the accounting procedure ESC C16 which used to be the way to help clients exit a profitable business. However restrictions have now been put on this by the government to stop ‘tax avoidance’ imposing a £25,000 threshold on funds available for distribution. For businesses that have more than this left in the bank at the time of closure, there are still ways you can implement your business exit strategy and draw any money from your business in the most tax efficient manner.

To help illustrate, one of our recent clients, a successful construction company, was run by a husband and wife team who were ready to retire. There were no family members for succession and they had £250,000 left in the company. By putting a Member’s Voluntary Liquidation in place we helped them close the company and distributed the funds to them saving over £75,000 in tax.

Strike off/Dissolution
If your client has a company that they no longer have a use for and it has no creditors we can assist them in bringing the company to a rest through the strike off process. We will fully advise your client from the outset on whether dissolution is possible based on their circumstances and therefore avoid the need of formal Liquidation.

Sale of business
At Business Rescue Centre we have a portfolio of business purchasers within a number of sectors, if your client has a viable business and is seeking a part or complete exit from their company please feel free to contact us.

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Business Rescue Centre Ltd
The Maylands Business Centre
Redbourn Road, Hemel Hempstead
Herts, HP2 7ES

Tel: 01442 233123

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