Company Disposal


J

Jack

Hi,

I have been running a ltd company for over 20 years with my wife as the
other shareholder. I now wish to retire and possibly have a buyer for my
business. I also own the premises from which I operate personally.

My initial idea is for him to form a company and purchase the goodwill from
our company along with the fixed assets. We could then cease trading, clear
debtors/creditors from our company before disposing of the company at our
convenience.

His new company would then lease the property from us.

Does this sound practical or are there glaring pitfalls and yes I will speak
to my accountant oncw he returns from honeymoon!!

Thanks
 
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