March Newsletter

March, 2015

Spring is upon us and although there were a good level of enquiries across all sectors at the beginning of the year it did quite quickly dip and has slowly been picking back up to a consistent level.  More buyers are coming to market now with realistic expectations of what they can afford given their deposits and the bank’s appetite to lend.

Bank Funding remains a challenge but we work closely with a number of commercial finance brokers and have a very good success rate of securing buyers finance.  They key criteria for gaining funding is that the buyers have a good deposit and relevant sector experience and that the business is capable of supporting borrowing.  As business brokers it is really important that you have your accounts up to date and we ask that you forward to us your latest set.

There are only a few weeks left before the new pension reforms take effect.  The new rules mean that it will be much easier for people to access funds held within their pensions and use these funds for whatever purpose they feel appropriate; including buying a business.  We are anticipating increased buyer activity as a direct result of these changes.  If you would like any advice or further information then we will gladly put you in touch with our colleague Lisa McCreadie who can guide you through the changes.

A reminder also that on April 1st Revenue Scotland comes in to effect and Scotland will have a separate Land and Building Transaction Tax (LBTT) (formerly Stamp Duty) to the rest of UK.  It means that from that date it will be more expensive to purchase a property over £345,000 in Scotland compared to the rest of the UK.  Further details can be provided on request.

As part of our commitment to adding value to the service our clients receive we have entered into a partnership agreement with St James Place Wealth Management.  Over the course of the next two months we will introduce you to Lisa who will be able to make sure that we have structured the sale of your business in the most tax efficient manner and that we are using all available tax allowances.

On a final note we would like to remind you that it is legal requirement that if your business is on the market then you must have a valid Energy Performance Certificate.  If you don’t have one then please call the office where we will be happy to arrange one.

From us all at CCL we would like to wish you a pleasant and prosperous Easter.

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