Many transactions that had been considered were accelerated and targeted to complete ahead of the budget announcement, such that sellers could ‘bank’ Capital Gains Tax rates and have certainty over their tax liabilities. The race was on.

Buying or selling a business is typically one of the largest business decisions owners will make, and working with them during this period with the budget day deadline on the horizon heightened the need for quick, proactive and accurate advice. A day delayed was a day wasted. Understanding our clients’ aims and objectives deeply, allowed us to quickly act on matters relating to transactions that were being worked on, to ensure that these completed within the deadline.

As has been seen, the budget did increase the Capital Gains Tax liabilities that would have otherwise arisen if the deadline was missed, and therefore the race was worth winning.

A team effort

As can be seen in sports such as The America’s Cup and Formula 1, to win races, you need a strong team behind you, all pulling in the same direction and working in tandem to deliver the best results.

In the last 18 months, our Corporate Finance Team has seen significant expansion in its capacity, which has really helped to deliver when needed. The range of skills within the team dovetailed across the different transactions to ensure that all of the clients’ needs were met. Working on multiple transactions with different structures, funding requirements and other relevant factors, allowed us to lean on those skills and enhance the service that we were able to provide to our clients.

“ I wanted to say thanks again for all the support you gave to me: it was greatly reassuring to know that you were in my corner. I felt that you were totally on top of the detail and I really appreciated your patience in explaining some of the aspects that I didn’t fully understand. I really don’t think that we could have completed this before the deadline without you, so I won’t hesitate to recommend you to anyone in a similar position. ” John Cassidy, Chairman of The Big Picture

We were also able to call on our wider team across the firm to support with due diligence matters, complex tax queries and restructuring of businesses ahead of completing the transactions, working together to truly deliver for our clients.

And what about the future?

Whilst the budget has clearly increased the Capital Gains Tax liabilities that will arise on the sale of businesses moving forward, there remains a number of levers and planning opportunities that can be implemented to reduce / mitigate these liabilities. Our team are ready to support clients on their journeys to exit and can explore what the future M&A landscape may look like, routes to market and the implications of buying or selling businesses.

What remains true is that being proactive about your exit objectives or acquisitive growth opportunities and planning accordingly, means that you will always be one step ahead to achieving your aims and objectives. If you are considering buying or selling a business, or want to discuss your options, get in touch with our Corporate Finance Team . We have a proven track record of winning when needed.