Selling Your Business: What Your Advisor Wishes You Knew Earlier

In this episode of The Tax Hour, our host Nick Wright is joined by Holly Threlfall, Partner and Head of corporate and commercial at Wilson Browne Solicitors. Together they explore the legal and commercial realities of selling a business, and why early preparation is critical to protecting value and avoiding costly surprises during a transaction. 00:00 Introduction 00:00:40 Why You Should Start Planning a Business Sale Years in Advance 00:02:30 Who Should Be on Your Deal Team? 00:12:35 How to Prepare Your Business Before Going to Market 00:15:10 Warranties, Disclosures & Avoiding Expensive Mistakes 00:18:35 Tax Planning That Could Save Hundreds of Thousands 00:20:40 Getting Your Business Structure Right 00:21:45 What Buyers Look for During Legal Due Diligence 00:24:55 Warranties, Indemnities & Purchase Price Reductions 00:38:15 Deal Fatigue: Why So Many Sales Become Stressful 00:40:35 Earn-Outs, Completion Accounts & Negotiating the Final Deal 00:51:15 Finding a Buyer & The Typical Business Sale Process 00:52:20 Managing Expectations From Heads of Terms to Completion 00:53:10 What Happens After the Deal Completes? 01:04:17 Final Takeaways