Selling a business is perhaps the most critical moment in an owner’s life with their company. The process of finding a buyer and agreeing a price can be drawn out, stressful – and with forthcoming changes to Capital Gains Tax (CGT) – may involve writing a substantial cheque to HMRC. For many owners, there may be another way, by utilising a HMRC-approved Employee Ownership Trust (EOT) to sell their business.
Quantuma, Clarkslegal and Clydesdale Bank delivered a webinar on Thursday, 24 September to explain how to use EOTs as a mechanism to sell a business to its employees on the owners’ terms and with significant tax benefits. Adrian Howells, an expert from our corporate finance team, was joined by Stuart Mullins from Clarkslegal and John Palmer from Clydesdale Bank, who discussed the many advantages EOT has to offer when business owners are looking to sell.
The interactive discussion, chaired by Ian Barton, considered the range of benefits for business owners.