If you are a business owner looking to sell your company, seeking the help of an experienced legal service provider should be your next step. Here is some basic advice and guidance to inform your choice of legal expert.
Once you have decided that it is time to sell your business, there are a number of legal and tax implications to take into account. It is important to consult a legal service provider in order to ensure that you adhere to your responsibilities as an employer and follow the relevant legal processes.
When selling your business, you have a responsibility to keep your staff and shareholders informed of the coming changes. You should also appoint a new director, and inform Companies House of the changes.
Selling a business does not have a definite timeframe. The speed and complexity of a sale may depend on the structure of a business, the size of a company, the number of employees and the assets associated with the business – including properties.
A legal service provider is well placed to offer step-by-step guidance when selling your business, instructing you on the necessary paperwork and legalities required before you can hand your business over to a buyer.
When appointing a legal expert to aid in the sale of a business, you should look to find a legal service provider with relevant experience. It may also be important to choose a legal service provider based on their size, location, cost or reputation. You can use The Law Superstore’s review and rating system to help you see what previous clients thought of a service provider.
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A legal service provider will typically charge a fixed fee or fixed fee with capped hours for business sale services.
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