If so you will need advice on the following
Should you buy the Company and set up a new Partnership/Company? We will advise you on the advantages of limited liability and favourable tax regime for companies.
A purchase of assets is normally favoured by a Buyer and a sale of shares favoured by a Seller.
TUPE – These Regulations will only apply if you are purchasing assets, if you are simply buying shares the Employees will remain employed by the same company.
This regulates the relationship between Shareholders in a company and creates a framework for running the business in much the same way as a Partnership Agreement. This will be essential unless there is only one shareholder who is to own the business.
What is the best way to finance your purchase? We will advise on invoice discounting, loan agreements, equity investments.
What do you need to know about what you are buying and what protection can you get in case things go wrong?
If they are to be employed by the company then you should have these drawn up even if the Director is also a Shareholder.
This should be considered at the very beginning of your business venture and is another advantage of limited company status and ensuring that you have comprehensive Articles of Association working alongside a Shareholder’s Agreement.