If you are in the fortunate situation of selling your business, forward planning is essential. What obligations will I have to give the buyer, what are both the corporate tax and personal tax implications, how do I structure the sale (shares or assets) and what is the payment period and structure all should be considered.
I do not replace lawyers but I do give a financial planning assessment of the impact of the sale if you are living in or moving to Spain. I work with your lawyers in the UK and Spain to ensure the situation is clear before a sale completes.
In this section there are articles which will cover:
- 0% tax on the sale of your UK business
- Building your portfolio after selling a business
- Why are share options different and what does it mean in Spain
If you are in the process of selling your business or have recently sold your business and would like to see how we assist in this situation, you may like to see how we approach your wealth management. Selling a business is often a life changer.
About the author
Barry Davys comes from an entrepreneurial family. His first venture, at the behest and guidance of his Dad, was selling bean and pea sticks via newspaper ads at the age of 13.
He was given accountancy training in the RAF and went on to become the Accounts Officer of a RAF Station in the North of the UK. He has run his own financial planning business since the age of 26. Professional qualifications followed but whilst important he realised that he could, and should, run his business better. An MBA from Warwick University unlocked blockages in the business and this later resulted in a successful sale. Barry has also been part of two other business sales.
Following a business sale, Barry relocated to Spain in Barcelona with a mission to show his daughters there was a big wide world outside of the Scottish Glen that the family lived in. The move was very successful and the mission was accomplished.
Barry joined the Spectrum IFA Group on arrival in 2006. After research, mentoring from local lawyers and actual case studies Barry has built a very good knowledge of the Spanish Tax system to compliment his financial planning skills.
Barry now regularly acts as a ‘translator’ for both UK accountants and lawyers and their Spanish equivalents. Understanding both the UK and Spanish systems gives the opportunity to ‘translate’ one country’s law to the professional in the other country. He does this by highlighting where the tax systems are complementary and where they are in conflict. This ability is much appreciated by clients and professionals and helps to create better outcomes more quickly for clients.