Tax Tricks For Selling The Shop

What you need to know when selling a private business

If you're the owner of a private business that has grown in value over the years, much of your personal and family wealth is likely to be tied up in your company. At some point, you may want to access that wealth, whether to fund your retirement, finance a major purchase, or just provide for your family. And you'll want to do it in the most tax-effective way possible.

For many business owners, the most effective way of realizing the value of their business is to sell it. This raises two key questions: To whom do you sell the business (assuming it's not being sold on the open market)?; How do you structure the sale to make it as tax efficient as possible?