Project Description

Michael and Denise, who live in Brooklands, have a business based in Hale. They have been clients of Pickard & Co for 17 years. As retirement age was not too far away they decided to sell their business.

At a meeting some 14 months beforehand, a plan was devised and put into action. Agents were found to market the business to outside parties. Eventually a buyer was found who was prepared to pay the required price and agree to the terms of the sale. A Heads of Agreement was drawn up to ensure both parties agreed to the important issues about the sale/purchase. At this point we recommended a firm of solicitors to assist with the legal documents.

As this was the first time that Michael and Denise had been involved in the sale of a business they needed to be guided through the process. Capital Gains tax (CGT), entrepreneur’s relief, pensions and family tax was of great concern to them. We also advised that the solicitors should update their wills at the same time to take account of their new circumstances.

Throughout the process of negotiations, terms of sale, discussing warranties and indemnities, approval of contracts and completion accounts, we worked closely together as a team.

At the completion of the sale we were also able to recommend a Financial Advisor to assist Michael and Denise in investing and protecting their cash proceeds. Michael and Denise were extremely grateful for the help in the past few months and to know that Pickard & Co were readily available to help with any future queries.