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Corporate Finance

How can Kirk Hills help?

We can help companies and businesses with the following:

Preparing a business for sale

We know what a buyer will be looking for when it comes to a business sale particularly if the buyer is using bank debt or venture capital to fund the purchase and are carrying out detailed due diligence.

They will look at areas such as:

  • Are all employees signed to a current contract of employment?
  • Are customers contracted to use the business and do they have to give notice to leave.
  • Does the company have any unsettled legal action against it?
  • Have there been any tax issues in the past such as VAT inspections or investigations and what was the outcome.
  • Are your statutory books up to date and do they match what is recorded at Companies House.
  • Are the asset values in your accounts accurate? Do you need to write down stock or increase your bad debt provision?

Assisting you with finding a buyer for your business

We can help you chose the right business transfer agent for you. We know many of the local firms in Exeter and regionally and who would be the right fit to sell your business.

We can also help draw up a list of firms to target as potential buyers. This can be a very effective way to find a buyer.

Helping you sell to a Management Buyout or Management Buy in team

We will help you set out the process and the issues that need to be overcome including gaining any advanced tax clearance. You may need tax clearance for a change in control of the company shares as this is a transaction in securities.

Helping you sell to an Employee Owned Trust

We have now dealt with a number of businesses that have sold their business to an Employee Owned Trust (“EOT”).

The advantages to this sale are:

  • The sale of the shares is capital gains tax free providing you sell more than 50% of the shares.
  • The shares are sold to a trust controlled for the benefit of all employees.
  • Employees can receive up to £3,600 year each from profits tax free.
  • The buyer is a much easier entity to deal with and they do not need their own legal advice on the purchase, so it is a much easier and less hostile sale.

Typical examples of sales by EOT are Richer Sounds or Riverford Organics.

The main disadvantage to this sort of sale is you will probably have to wait a few years for payment in full out of future company profits and you may not get the absolute maximum sale price.

Assisting you with setting up tax efficient employee incentive schemes

We can help you set up an Enterprise Management Incentive Scheme. This is where shares are given to employees and they do not pay tax on the granting of share options.

Raising finance to buy a competitor or to expand your business

We have knowledge of the local and regional finance market and the best finance brokers and banks. We know who is in the market looking for your particular type of business and what are the best rates for loans and mortgages.

We also have good knowledge of the grants available for businesses.

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Personal Finance

Personal finance refers to all earnings, expenditure and savings relating to an individual’s personal use. Find out more

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Payroll Support

We can produce payrolls on a weekly or monthly basis for your business Find out more