Do you have multiple companies in your group?
Does your company structure reflect recent developments?
As a business evolves over time, it may be advisable or become necessary to restructure the companies or assets within a group.
If you have been very successful and have acquired numerous companies over the years, then you may have a corporate structure that includes many dormant or non-trading entities.
You may have reduced the number of operations and perhaps you could benefit from merging operations from one or two companies into one entity. It may be that you want to separate out a particular division as it can now trade in its own right. Once the division has been separated out, you may be in a position to sell off this division and concentrate on your core business.
Alternatively, you may be planning on retiring and you may want to transfer property out of your company so that it stands alone as an investment and the business can be sold as a separate entity.
Having a more simplified structure will reduce the administrative burden and costs associated with filing returns and producing dormant accounts. Additionally if you are planning on selling your group, a prospective buyer will not want to take on dormant subsidiaries with unknown liabilities.
If any of these scenarios sound familiar to you, then the corporate team at Myers & Co can help. We can look at your businesses and advise how to merge or hive divisions into or out of other companies. We can meet with your other advisers to agree a strategy and a structure that will suit you and your business needs going forward.
Based in Stoke-on-Trent, Staffordshire, our corporate lawyers have a reputation for providing expert advice. For further advice contact Myers & Co Solicitors on 01782 577000.
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