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GCC Group is a managed IT companies supplier supporting greater than 600 shoppers. This acquisition gives a chance of development for Xperience group and permits them to bolster their presence throughout the UK. Menzies LLP had been advisors for GCC Group throughout this acquisition.
“We’re delighted to have been in a position to 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 function and tasks had 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 had been taken into consideration when negotiating the sale consideration, advising the shareholders on their private tax positions and offering normal tax help all through the transaction.
How did you carry your expertise and experience of the tax and enterprise regimes to this challenge to help the GCC Group effectively?
Menzies LLP has a wealth of expertise in advising shoppers on enterprise gross sales and acquisitions. We had been ready to make use of our experience to make sure that negotiations on the tax warranties had been concluded rapidly, that the tax due diligence course of ran easily and that the shareholders had been in a position to realise the advantage of tax belongings as a result of GCC Group.
Throughout this challenge with GCC Group had been there any challenges you and your group confronted and the way do you tackle these for the advantage of the transaction and the consumer?
The largest problem of any sale is to make sure that the transaction stays on monitor and completes throughout the required timescales. We had a devoted group supporting GCC Group which ensured we had been ready to answer queries rapidly and effectively. We additionally labored intently 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 entails aiding the sellers take care of their private tax affairs. Many gross sales contain receiving proceeds over an earn-out interval and you will need to make sure that deferred consideration is appropriately reported and that applicable tax elections are made to maximise tax reliefs the place relevant. We additionally help shareholders with long run tax and monetary planning to make sure that wealth arising from the sale is managed effectively for the sellers and future generations.
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