Solicitors For Buying And Selling Businesses
Our firm regularly handles the purchase and sale of the following business types:
Pubs & Bars, Cafes, Restaurants, Retail Shops, Letting Agents, Bed and Breakfasts, Hair Salons and Beauty Salons & Nail Bars.
Bartletts Solicitors offers a cost-effective and efficient fixed fee service for prospective business buyers and sellers. Our legal fees for buying and selling a business depend on the complexity of the business that you are intending to purchase or sell. For small businesses such as cafes, hairdressers, restaurants, and pubs, we usually charge a simple fixed fee of £550 (+VAT). For this price we:
Check VAT issues to see if the buyer or seller has to pay VAT
If a business is being purchased or sold as a going concern, i.e. the ownership of the business is being transferred outright, then it is not treated as the ‘supply of good or services’, and no VAT will be payable on the business transaction. However, when only specific assets of a business are being purchased, such as machinery or fixtures and fittings, these transactions will normally be subject to VAT at the appropriate rate. Though this sounds relatively straightforward, in reality there are various conditions and provisions attached, and failure to deal with VAT in the correct manner can result in penalties and interest being charged by HMRC.
Recent Customer Review (16 April 2021): 'James Edwards, in the Commercial Property Department at Bartletts, provided a thorough and helpful service throughout... I would definitely recommend them for any work and will be using them again as well and they are very reasonably priced...' Read more >