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Buying or selling an opticians practice

There are a number of ways of valuing an ophthalmic company or an optician's practice, depending on individual circumstances and the future income stream which may arise from the business concerned.

Businesses are valued either on an ‘assets’ basis or an ‘earnings’ basis. If an assets sale is to take place then up to date valuations are required for property and other assets of value together with an accurate balance sheet as to the liabilities of the company and the recoverability of its debtors. It always pays to review a balance sheet prior to sale such that any inconsistencies cannot be challenged by potential purchasers.

On an 'earnings' basis the valuation is completed on the basis of profits that the company can generate or is expected to generate on a recurring basis. Companies are frequently valued on a price earnings ratio and this is discounted to take account the fact that smaller unquoted companies in similar trades lack the public information which may exist for quoted companies and also future prospects.

The taxation implications of any sale always need to be considered both in terms of Corporation Tax within the company and in terms of the personal tax liabilities of the shareholders.

Invariably when a company is sold there are warranties to be given in relation to the company’s affairs and Morris & Co together with your legal advisers can ensure the entire sale process runs smoothly.

Morris & Co have a dedicated team specialising in VAT and ophthalmic accounts and are able to provide advice and guidance on all aspects of financial accounting, taxation including partial exemption & business matters.

For a FREE no obligation chat about your circumstances Contact Desirie Lea on 0151 348 8400 or email specs@moco.co.uk

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