Tom Lumsden, a partner at CooperBurnett LLP, considers the amount of paperwork required when selling a care home
Selling a care home business, whether by way of a sale of the business as a going concern via a sale of the shares of an existing care home company, or a sale of just the assets, is a major undertaking. Clients who have not sold a business before are often quite surprised and sometimes overwhelmed by the amount of work needed for the sale to proceed smoothly.
There are many ways in which prudent sellers considering an exit can facilitate the process. The first important step is to involve solicitors and accountants at the earliest possible stage. This will allow the owner to decide how best to structure the sale, taking account of tax advice (which is crucial), and allowing their solicitors to collate and prepare any necessary documentation.
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