Legal firm utilises AAB experts for corporate finance and tax support

Case Study18th May 2021

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Our Client 

A legal firm disposing of their business requiring Corporate Finance, Accounting and Tax support. 

Our Approach 

  • Prepared financial projections to establish estimated final current/capital accounts of the partners and cash position at completion 
  • Reviewed and negotiated financial aspects of the business transfer agreement 
  • Negotiated value of work-in-progress at completion on client’s behalf 
  • Prepared completion accounts within a short timescale to determine and agree final sales proceeds 
  • Advised each partner on their individual income tax and capital gains tax position and options for personal tax planning 
  • Provided post-completion accounting support and personal tax advice to minimise tax liabilities

The Outcome 

  • The firm and partners were more informed on estimated financial position at completion  
  • Issues were identified and resolved quickly allowing the transaction to complete in line with original timetable 
  • The firm was able to focus attention on other aspects of the disposition including integration of staff and transferring clients to the new owner 
  • By providing the partners with financial projections and tax calculations, they were able to determine the terms on which the deal would work well for them financially 

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