Buying and Selling a Business – Completion

The parties have finally signed the agreements and everything has been finalised, but there still remains some matters which need completing. A completion agenda will be put into place which will include, but is not limited to:

  • Buildings and contents insurance (risk passes to the buyer at completion).
  • VAT registration
  • Payroll
  • PAYE
  • National Insurance
  • Transfer of any utility accounts
  • For Share Purchases – detailed board minutes dealing with the share transfer and any formal requirements.
  • Preparation of an announcement to the suppliers, customers, employees and the public.
  • Payment.
  • Director resignations and appointments.
  • Transfer of IP rights and real estate.
  • Preparation of completion accounts.
  • Carry out all the necessary filing and complete any practical issues relating to the transfer.

If you’re interested in buying or selling a business and would like to find out more, please contact Izaz Ali on izaz.ali@lawdit.co.uk.

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