Do you have surplus entities in your UK or global structure that you want to simplify, but face challenges with internal resources or project timelines? If so, you are not alone. There are still more entities being incorporated then dissolved and the amount of incoming additional compliance as a result of things such as sustainability reporting and the Economic Crime and Corporate Transparency Act 2023 mean that simplifying your legal entity structure is receiving more focus in the board rooms.
Some common barriers include:
- Lack of internal resource. Simplification is often an extra task that no one has time for, and it can take longer than expected to complete.
- Delayed payback. Because of the slow progress, simplification projects can lose priority and funding to other initiatives.
That is why we have developed a new approach to help you achieve simplification faster and easier, by using a third party to buy and eliminate your solvent entities. We can support you to:
Identify and package a group of surplus entities that you want to simplify.
Find an unrelated third party that is willing to buy these entities from you, for a fair price that reflects the costs and benefits of simplification.
Provide you with a full range of support to complete the sale and transfer of these entities to the third party, including legal, tax, accounting, and regulatory advice.
Work with the third party to wind up or merge these entities under their structure, using our expertise and experience in simplification.
The benefit of a more streamlined structure, reduces risk, and improves efficiency, without having to deal with the complexities of simplification directly and can be especially useful if you are working to tight timeframes.
If you are interested in learning more about our new approach, or the other tools we have in our simplification toolkit, please get in touch with us. We would love to help you simplify your structure and focus on your strategic goals.
