Selling A Business
Toomey Legal – specialists in Newcastle and Tyne and Wear
Expert Advice
We can help you sell your business; we know all the legal processes involved in the sale of a business and we can provide expert advice and guidance throughout the whole process.
Selling your business?
The legal process can be extremely overwhelming. We help you through the process by offering specialist services for sale of a business, including business assets, due diligence process, and business sales.
We’re here to help. Selling your business is a complex and stressful process, which is why we specialize in helping you through this process. Our team of highly experienced lawyers will guide you every step of the way, so you can focus on how to run your business better than ever before.
We can help you sell your business, development business and advisory services for both startups and established companies. We understand the legal processes involved in the sale of a business.
We know the business sales process
Our legal team are specialists in the legal process involved in selling a business. We offer services in Newcastle and Tyne and Wear with an expertise in businesses for sale. We’re based in the North East, so our experience covers all areas of the region. Whatever you need to get your company on track during this exciting time – we’ll be here to help.
A specialist legal service provider
We offer services for businesses of all shapes and sizes – from startups to established companies looking to grow their workforce or expand their operations. So whether you’re a small business or limited company, we can help. Our team have extensive experience working on some of the most high-profile cases in Newcastle and Tyne and Wear – so your company will be in safe hands.
Buy, sell, and protect your business
We work with business owners and offer a range of business services including:
- Disclosing information to prospective buyers
- Due diligence process
- Business sales
Selling A Business – FAQs
What is involved in selling a business in the UK?
Selling a business involves preparing the company for sale, agreeing heads of terms, managing buyer due diligence, drafting the sale agreement, providing disclosures and warranties, and completing the legal transfer. As experienced commercial conveyancing solicitors in the Northeast, we guide sellers through the entire business sale conveyancing process to achieve a smooth and successful exit.
Do I need a solicitor when selling my business?
Yes, it is highly recommended. A specialist business sale solicitor or commercial property solicitor protects your interests, minimises risks, and ensures you receive the best possible terms. We handle legal due diligence responses, prepare disclosure letters, negotiate warranties, and manage the full business sale conveyancing process so you can focus on the sale itself.
What is business sale conveyancing?
Business sale conveyancing covers the legal aspects of transferring ownership of a business, whether through a share sale or asset sale. It includes reviewing contracts, handling commercial leases or property elements, preparing sale documentation, and ensuring compliance with business property law. Our team provides expert support tailored to sellers in Northumberland and the Northeast.
What is the difference between selling business assets vs shares?
In an asset sale, you sell specific parts of the business (e.g. goodwill, stock, premises). In a share sale, the buyer acquires the entire company, including its liabilities. Each structure has different tax, risk, and legal implications. We advise on the most suitable option for your situation and manage the associated legal work.
How long does it take to sell a business?
The timeline varies depending on the size and complexity of the business, but most sales take between 8 and 16 weeks from heads of terms to completion. Factors such as due diligence queries and property elements can extend this. We work efficiently to keep the process on track while maintaining strong negotiation positions.
What due diligence will a buyer carry out when I sell my business?
Buyers typically conduct thorough financial, legal, commercial, and operational due diligence. As your solicitors, we help you prepare by reviewing documents, responding to information requests, drafting a comprehensive disclosure letter, and limiting your liability through carefully worded warranties.
What are the costs involved in selling a business?
Costs usually include legal fees for business sale conveyancing, accountant fees, potential surveyor or valuation costs, and any tax advice. We offer transparent pricing and can provide fixed-fee options for many elements of the sale. Contact us for a clear quote based on your specific business.
Do you handle the sale of a business that includes commercial property?
Yes. Many business sales involve freehold or leasehold commercial property. Our commercial conveyancing solicitors manage both the business transfer and the linked property aspects, ensuring everything is coordinated under business property law for a seamless transaction.
Why choose Toomey Legal for selling your business in the Northeast?
We are a local firm with specialist expertise in business sale conveyancing and commercial transactions across Newcastle, Tyne and Wear, Northumberland, and the wider Northeast. Our approachable team delivers clear, practical advice to help you achieve a successful sale with minimal stress.
Can you also help with buying a business?
Absolutely. We support clients on both sides of transactions, buying and selling, which gives us valuable insight into the full process and helps us anticipate buyer concerns when acting for sellers.
Services
We’re available for any enquiry or question you may have. You can get in touch by one of our may services that include: