Wednesday, 22 June 2016
THINKING OF SELLING YOUR BUSINESS?
If the time has come for you to consider selling your business, there is much to take in to account.
One of the most significant decisions will be whether to sell the business as a whole, as a going concern as part of the entity is currently operates within, or to sell some or all of the business assets out of the entity. There are many factors impacting this decision, both commercial and taxation based, and it will also be impacted by the vendor and the potential purchasers wishes.
Trading history, physical location of the business, key contracts, stock on hand and the value the current owners bring to the business will all form part of the valuation and the negotiation process.
In addition, vendors and purchasers both need to ensure they have a good understanding of any capital gains implications and concessions, GST impacts, transferable employee entitlements, state duties, income tax and franking credits and the list goes on.
Please contact Andrew Marshall or Janine Orpwood at Langley McKimmie Chartered Accountants on (03) 5427 8100 to discuss further.
We provide accounting and wealth management services to clients in Woodend, Gisborne and Macedon Ranges areas within Victoria Australia.