Why are more businesses preparing to sell assets?
Alongside long‑term succession planning, a growing number of owners are now considering selling their business either fully or partially, or the disposal of assets such as commercial property, as a way of managing financial pressure while protecting the future of the business.
With recent Capital Gains Tax (CGT) increases, and reductions in the generosity of key CGT reliefs, business owners may have an added incentive to consider selling sooner rather than later.
From April 2025, the CGT rate applicable to gains qualifying for Business Asset Disposal Relief increased from 10% to 14%, followed by a further rise to 18% in April 2026. These changes affect anyone selling all or part of a business, business assets, or shares — making early planning increasingly important.
To help business owners prepare for sale, Andrew Fielder, Head of Business Legal Services at Banner Jones, outlines the key steps for a successful business sale.
Lay Strong Legal Foundations
A legally sound business is more attractive to buyers and less likely to encounter delays during due diligence — something that is particularly important where a sale is being explored under time pressure.
Shareholders’ Agreement:
“For businesses with multiple owners, a well‑drafted shareholders’ agreement is crucial,” says Fielder. “It ensures clarity on ownership rights and prevents disputes that could disrupt a sale, at a time when certainty is vital.”
Business Will and LPAs:
Just as personal estate planning is essential, business LPAs and a Will provide continuity in unforeseen circumstances. “Having a structured plan in place protects operations and safeguards the value of the business, which is especially important where owners are navigating financial uncertainty.”
Dispute Resolution Mechanisms:
Clear processes for resolving disagreements between business partners can prevent conflicts from delaying or jeopardising a sale or disposal. Our Dispute Resolution team are on hand to advise you if necessary.
Premises and Asset Considerations
Many established businesses, particularly across Sheffield, Chesterfield, Dronfield and Mansfield, hold significant value in their premises or wider asset base.
If your business operates from owned or leased property, addressing property‑related matters early can significantly improve outcomes — whether the intention is to sell the business, sell surplus assets, or dispose of commercial property to improve liquidity.
Lease Agreements:
“Buyers want certainty,” says Fielder. “An expiring or problematic lease — or unclear property arrangements — can deter interest or affect value.” Renewing or clarifying lease terms in advance can strengthen a business’s position.
Commercial Property & Asset Sales:
Selling a freehold property, part of a portfolio, or non‑core business assets can release capital and support ongoing trading — but these transactions still require careful legal preparation to avoid delays, tax inefficiencies or value erosion.
Maintenance & Compliance:
Outstanding repairs, title issues or regulatory breaches can quickly become obstacles. Addressing them early reassures potential buyers and strengthens negotiating positions.
Managing Employees & HR Considerations
A well‑managed workforce remains a key asset in any business sale. “Ensuring that all employees have up‑to‑date contracts with clear terms demonstrates stability,” explains Andrew. “This is particularly important where a sale or restructuring is being pursued as part of a wider response to financial pressure.” Our in-house, award-winning Employment Law Solicitors in Sheffield, Chesterfield and Mansfield can help you every step of the way.
Mitigating Business Risks
Whether a sale is driven by long‑term planning or shorter‑term financial concerns, proactive risk management can enhance a business’s saleability and reduce the chance of costly complications.
Legal Health Check:
Reviewing supplier contracts, standard terms, and regulatory compliance can help identify potential issues before a buyer does — enabling them to be resolved on the business’s own terms.
Standardised Terms & Conditions:
Robust, enforceable contracts strengthen a business’s negotiating position and help maintain confidence during negotiations.
Why Acting Early Matters
With effective CGT rates having increased and economic conditions remaining challenging for many sectors, business owners are being encouraged to take advice earlier — while they still have a full range of options available.
“There is a lot to consider when selling a business or disposing of assets, and even more so when decisions are being made against a backdrop of financial pressure,” Fielder concludes. “But acting early can protect value, preserve choice, and lead to far better outcomes. At Banner Jones, we guide business owners through every stage — whether they are planning ahead or responding to changing circumstances.”
Why Choose Banner Jones Solicitors
Our team of Corporate Solicitors in Sheffield, Chesterfield and Mansfield will provide high quality, pragmatic legal advice at every stage of the business lifecycle; from starting a business to expansion and acquisition right through to selling your business.
- With over 85 years collective experience, our commercial teams work to a very high standard and have a wealth of experience across many areas.
- We pride ourselves, not only on the long-term working relationships that we have built with our repeat clients both locally and nationally, but also on the exceptionally high level of customer service that we provide.
- We will take the time to understand your business, your concerns and your aims.
- We are an award winning, Legal 500 Recommended Firm.
For expert legal advice on selling a business or disposing of commercial assets, contact our Corporate Solicitors in Chesterfield, Sheffield and Mansfield today.
Meet the Team
Andrew Fielder
- Director
- Solicitor
- Head of Business Legal Services