Scale to sale: tax considerations when selling a UK business

From a personal tax and estate planning perspective pre-sale planning can facilitate proactive succession planning in a manner which achieves the personal and economic goals of entrepreneurs. This article discusses exemptions and reliefs which could apply on a personal sale of shares in a UK business as well as the use of trusts and philanthropic structures as an estate planning strategy. The structure of the sale should also be considered well in advance to ensure a smooth handover to the buyer. The buyer and/or seller will firstly need to decide upon the overall structure of the sale be it a share sale asset sale or management buyout. Once that is decided it may be possible to structure the sale in a way that is (insofar as possible and commercially viable) both tax efficient and non-disruptive in terms of employment and incentives. This can depend on...