A goodwill valuation might be needed for one of the following reasons and with many years’ experience in preparing Veterinary practice valuations we are best placed to assist:

  • Practice sale
  • Practice purchase
  • New owner buying in
  • Retirement of an owner
  • Divorce
  • Practice dispute
  • Joint venture
  • Merger / demerger

With all of these matters we will provide a tailor made solution for the individuals and the practice, where our service also includes:

  • Tax efficient remuneration planning
  • Capital Gains Tax planning
  • Liaising with legal advisors and any finance providers
  • Financial review of legal documentation
  • Financial based assistance with partnership or shareholder agreements
  • Creating a tax efficient structure
  • Considering affordability

Please do get in touch with the team should you have any further queries or if you would like an idea of our fees.

Case study

Succession planning options

Background: The owners of an established veterinary practice required advice regarding succession planning. The shareholders had started to think about their exit strategy and although they had not ruled out a sale to a corporate at a future date, they were keen for the practice to remain independent in the medium term as they had some key employees who they wanted to make shareholders. 

How we helped: We provided practical advice which included:

  • Valuation of the practice
  • Consideration of affordability for the new shareholders (key employees)
  • Discussions around funding
  • Capital gains tax advice for the existing shareholders
  • Advice regarding an anti-embarrassment clause (this clause ‘makes fair’ any consideration should there be a sale to a corporate within a certain time frame post sale to the new shareholders)
  • Liaising with the solicitors advising on the legal agreements including an updated shareholders agreement
  • Tax efficient remuneration planning to include the new shareholders

The outcome:  The existing shareholders were able to bring new owners into the business, realising some cash, but having left their future options open as regards a corporate sale with some protection over the goodwill value they have sold to the new shareholders.

 

 

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Key contacts

Phil Swan
Phil Swan
Partner
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Mark Harwood
Mark Harwood
Partner
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Suzanne Headington
Suzanne Headington
Partner
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Rachel Vines
Rachel Vines
Director
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