Selling a company to an overseas buyer
An individual had built up a software company, which a Canadian company wished to buy. As a condition of the purchase, the buyer required the individual to go and work in Canada for a period after the sale.
We advised on the tax issues relating to the sale. Both a sale of the business and a sale of the company were considered. It was eventually decided, in the light of tax and commercial factors, to sell the company. We helped to negotiate tax warranties and the tax deed. In addition we helped the individual with his own personal tax position. We worked together with a Canadian lawyer to ensure that both UK and Canadian aspects were properly taken into account.
