Selling the family business ― overview

Produced by Tolley

The following Owner-Managed Businesses guidance note Produced by Tolley provides comprehensive and up to date tax information covering:

  • Selling the family business ― overview
  • Pre-sale planning
  • Trade and assets sale or share sale
  • Tax treatment of disposal consideration
  • Tax reliefs available on the sale of the family business
  • Articles relating to selling the family business

Selling the family business ― overview

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 ares are covered further in the following guidance notes:

  1. Transfer of a trade

  2. Share for share exchange

  3. Demergers ― overview

  4. Reconstructions involving transfer of busi

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