GCC Group is a managed IT providers supplier supporting greater than 600 shoppers. This acquisition supplies a chance of development for Xperience group and permits them to strengthen 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 assist our long-term consumer with this transaction and need 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 had been throughout this acquisition and what duties you undertook for this particular deal?
Menzies LLP supplied tax advisory assist to GCC Group, guaranteeing that tax effectivity was maximised for each the group and its shareholders.
Our work concerned advising on the tax sections of the sale settlement, guaranteeing that the worth of future tax advantages had been taken under consideration when negotiating the sale consideration, advising the shareholders on their private tax positions and offering basic tax assist 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 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 good thing about tax belongings because of the GCC Group.
Throughout this mission with GCC Group had been there any challenges you and your crew confronted and the way do you handle these for the good thing about the transaction and the consumer?
The largest problem of any sale is to make sure that the transaction stays on monitor and completes inside the required timescales. We had a devoted crew supporting GCC Group which ensured we had been ready to reply to 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.
Might you stroll us by way of the assist Menzies sometimes provide shoppers as soon as the deal has been made?
When appearing for the sale facet of a transaction, our follow-on work sometimes includes 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.