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.

share this Article

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on email

Recent Articles

How are NFT’s regulated in the UK?

The Financial Conduct Authority (FCA) has not yet provided guidance on NFT’s specifically with regards to regulation in the United Kingdom (UK). However, the FCA