Warren Baker Partner

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Warren Baker

Partner

Warren joined Wilson Wright in 2001 after qualifying in 1988 with Arthur Andersen in London.

He is actively involved in DFK International, an association of independent accounting firms operating across 90 different countries.

Warren has built relationships with member firms around the world and handles the majority of our international work.

Warren has years of experience working with clients from a wide range of industries from around the world, with particular expertise in media, property, and offshore structuring.

He is an expert on the issues of inward and outward investment and has worked with many firms helping them to set up operations in the UK and abroad.

Warren works closely with entrepreneurs advising them on how to develop and grow their businesses, develop detailed business plans, growth strategies, route maps through to planning exit routes.

Warren is our Corporate Finance Partner and carries out corporate advisory work including due diligence, whitewash reports and forensic work. He advises on acquisitions and disposals for clients, ensuring the process runs smoothly. Several of these assignments have been for quoted companies.

He is a keen golfer, bridge player and oenophile.

22 Nov 2019

Many owners of small and medium businesses believe that their business is their pension, but most fail to maximise the value that they can achieve.

Many small and medium size business owners work really hard to build up their business and consider that it is their major asset after their house. Many believe that they will reach retirement and then sell it on, so creating a tax efficient pension pot. But what most people do not realise is that in order to maximise the value of the business they need to start planning many years in advance.

Below is a list of things that the owner should consider doing:

• the owner needs to make themselves dispensable
• ensure all the Intellectual Property in the business is properly documented and correctly owned
• ensure that the accounts are accurate and there are no significant issues that could come back and bite
• ensure all taxation is properly dealt with and up to date
• undertake a pre-sale due diligence to ensure there are no issues that could affect the sale price
• ensure that the shares in the company are properly distributed amongst the family to ensure the maximum tax relief
• ensure that key staff have contracts and are properly tied in and consider if an employee share option scheme may be appropriate
• ensure that the company has a register of all relevant contracts and these are up to date

The process for sale can be fraught with problems and planning is the key to ensure it goes as smoothly as possible and the maximum price is achieved for the business.

Indemnities and warranties can eat into the sale consideration so where these can be limited by ensuring the buyer is comfortable with the business, there is less chance that there will be clawbacks.

If you would like an initial discussion around selling your business and what you need to do, please contact us.