Selling a business


(Jan Rogers) #1

A few years ago we attended a talk given by a notaire, and he said that when we finally came to sell our B&B business we should de-register at the Chambre de Commerce before we put it on the market…or at least that’s what I think he said!



Does this sound familiar to anyone?



Thanks,



Jan


(Jan Rogers) #2

Thanks Guillaume. I’m assuming that as part of our home is our business, then CGT will be payable. Dis-entangling the home from the business part is the tricky part. Looks like we’ll need some professional advice. Will keep you posted.

Jan


(Guillaume Barlet-Batada) #3

Hello Jan,

There are not enough elements to specifically comment but I guess the notaire advised to do this for tax reason. I would be careful about this for two reasons:

  • the cancellation of your business registration with the Chambre de Commerce may prevent you from benefiting from certain tax exemption linked to the status of the business,
  • such cancellation may be construed as tax avoidance in particular if the purchaser registers again the business.

The notaire may have already anticipated these issues and your best move would be to request a simulation of both cases by an accountant.

Let us know how you get on.

I hope this helps,