GCC Group is a managed IT companies supplier supporting greater than 600 shoppers. This acquisition supplies a chance of progress for Xperience group and permits them to bolster their presence throughout the UK. Menzies LLP have been advisors for GCC Group throughout this acquisition.
“We’re delighted to have been capable of help our long-term consumer with this transaction and want each GCC Group and Xperience each success of their future enterprise plans.”
Q&A with Rebecca Wilkinson
Are you able to clarify what your position and duties have been throughout this acquisition and what duties you undertook for this particular deal?
Menzies LLP supplied tax advisory help to GCC Group, making certain that tax effectivity was maximised for each the group and its shareholders.
Our work concerned advising on the tax sections of the sale settlement, making certain that the worth of future tax advantages have been taken into consideration when negotiating the sale consideration, advising the shareholders on their private tax positions and offering common tax help all through the transaction.
How did you convey your expertise and experience of the tax and enterprise regimes to this mission to help the GCC Group effectively?
Menzies LLP has a wealth of expertise in advising shoppers on enterprise gross sales and acquisitions. We have been in a position to make use of our experience to make sure that negotiations on the tax warranties have been concluded rapidly, that the tax due diligence course of ran easily and that the shareholders have been capable of realise the advantage of tax property because of the GCC Group.
Throughout this mission with GCC Group have been there any challenges you and your workforce confronted and the way do you deal with these for the advantage of the transaction and the consumer?
The most important problem of any sale is to make sure that the transaction stays on monitor and completes throughout the required timescales. We had a devoted workforce supporting GCC Group which ensured we have been in a position to answer queries rapidly and effectively. We additionally labored carefully with GCC Group’s different skilled advisers to supply a joined-up service, which enabled the transaction to finish easily.
May you stroll us by the help Menzies usually supply shoppers as soon as the deal has been made?
When appearing for the sale facet of a transaction, our follow-on work usually includes helping the sellers cope with their private tax affairs. Many gross sales contain receiving proceeds over an earn-out interval and you will need to be certain that deferred consideration is accurately reported and that acceptable tax elections are made to maximise tax reliefs the place relevant. We additionally help shareholders with long term tax and monetary planning to make sure that wealth arising from the sale is managed effectively for the sellers and future generations.