Accountants for Selling a Business

You’ve built your business with hard work and determination, but, when it comes time to exit, the process can be overwhelming. Questions about valuation, negotiating the sale, minimising tax implications and ensuring a smooth transition may keep you up at night.

At Munro’s, our accountants help guide business owners through every step of selling their business, so you can confidently move on to your next chapter.

BOOK A FREE MEETING WITH A BUSINESS ACCOUNTANT

Most Popular Accounting Services for Selling a Business

Tax Planning Before Selling a Business

 

From $3,000 (excl. GST)

Tax Planning Before Business Sale Services

Find Lost Profit & Improve Workshop

 

From $2,600 (excl. GST)

Lost Profit Workshop

Profit Improvement Programme

 

From $6,295 (excl. GST)

Profit Improvement Programme

Advice from Accountants for Selling a Business in Western Australia

The rest of this page is dedicated to providing you with an overview of the typical problems and associated solutions with regard to selling a business. These apply whether you are selling a business in Perth, elsewhere in WA or across Australia.

Should you need professional accounting help when selling your business, please let us know by booking a meeting or sending an enquiry.

The Problem

Selling a business isn’t just about finding a buyer; it’s about overcoming several key challenges:

  • Valuation Uncertainty: Determining the true value of your business can be complex. Without an accurate valuation, you risk underselling or scaring off potential buyers.
  • Tax Implications: The tax consequences of a sale can erode your profit if not managed correctly. Many business owners worry about paying too much tax and missing out on available concessions.
  • Emotional & Strategic Decisions: Selling a business is an emotional decision as well as a financial one. It requires a clear strategy to ensure that your years of hard work are rewarded.
  • Smooth Transition: The sales process can disrupt day-to-day operations. You need a plan that ensures minimal interruption so that your business continues to thrive during the sale process.

Our Solution:

At Munro’s, we understand that every business is unique. We listen to your challenges and craft a tailored solution that delivers real value. Here’s how we can do it:

  • Valuation Improvement: We can work with you to understand the value of your business in its current state and, more importantly, how to improve the value so you get the most out of the sale.
  • Tax Planning: Our business tax accountants examine your tax position and develop strategies to legally minimise your tax burden.
  • Responsive Advice & Assistance: From preparing your financials to negotiating with buyers, we are promptly available throughout every step of the sale process.

Key Outcomes & Benefits

  • Maximum Business Value: Our comprehensive valuation and strategic advice help ensure you receive the best possible price for your business.
  • Minimised Tax Liability: With proactive tax planning, we help you take advantage of all available concessions, so you keep more of your profit.
  • Peace of Mind: You complete the process knowing you’ve done everything possible to make it a great success.

Problem 1: Get Ready to Sell

To increase the chance of selling your business within the desired timeframe and at the price you want, you need to get it ready for sale. Generally, the sooner you start getting ready, the better.

Solution
Business sales readiness.

Outcome
An attractive business for prospective buyers.

Problem 2: Business Valuation

There isn’t just one way to value a business. Ultimately, what you want as the seller is a business valuation that is realistically achievable and prepared in such a way that will effectively help the buyer agree to pay it.

Solution
Realistic business valuation.

Outcome
Increased chance of selling the business at a fair price.

Problem 3: Save Tax with the Small Business CGT Concessions

There may be very valuable tax concessions available if you satisfy certain criteria. This includes the possibility of an extra 50% CGT discount plus a part or full tax exemption. Forward planning is advised, given that things may need adjusting the year, or several years, before selling.

Solution
Forward tax planning.

Outcome
Bare minimum tax.

Problem 4: What Next

As you approach selling your business and possibly coming into a large cash lump sum, you’ll need to consider how to set this up in a tax-effective and financially prudent manner.

Solution
Retirement tax planning.

Outcome
Tax-effective retirement.

Frequently Asked Questions for Selling a Business

  1. What does selling a business involve?
    Selling a business involves determining its value, preparing financials, negotiating with potential buyers and planning for tax implications and transition. Our process is designed to address each of these steps systematically.
  2. How can I minimise my tax liability when selling my business?
    Our tax accountants examine your tax position and, where possible, leverage concessions to tailor a strategy to ensure you pay no more tax than necessary. Sometimes actions need to be taken years in advance to legally minimise tax at the time of the sale, so make sure you get started on tax planning for selling a business early.
  3. What outcomes can I expect when working with Munro’s?
    Our approach is designed to secure the best possible sale value, minimise tax impact and ensure a smooth transition. Our clients appreciate the clarity and confidence we provide throughout the process. See our over 100 5‑star Google reviews as a testament to our high-quality accounting service.
  4. Are your services available outside Perth?
    While Munro’s is based in Perth, our business accounting and advisory services are available throughout WA and across Australia.
  5. What is the price of your service?
    Our pricing is transparent and reflects the complexity of your needs. Please visit our pricing page and contact us for a personalised quote.
  6. How do I get started with selling my business?
    It all begins with a free Get To Know Each Other meeting. During this meeting, we discuss your business and your future goals, setting the initial stage of constructing a tailored sales strategy that achieves what you need.
  7. Can you help with other accounting and advisory services beyond selling my business?
    Yes. At Munro’s, we offer a full range of accounting, tax and business advisory services designed to support you through every stage of your business lifecycle.

Where To Begin

Get To Know Each Other Meeting

 

FREE (incl. GST)

How We Get Started

Tailored Tax Advice

 

$396-$770 (incl. GST)

Tax Consultation Service

Come Along To An Improve Session

 

First Session is FREE (incl. GST)

Upskilling Event for Business Leaders

Are you ready to sell your business?

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Selling a Business Diagnostic

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  • ★★★★★ — Carlos Braun

    Have been using Munro’s for many years now and always happy with the thorough and speedy work they do. Highly recommended.

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    Munro’s were able to take complicated tax matters like cryptocurrency trading income for a new company and turn it in to a simple solution for me. Drew has always been amazingly patient and helpful, answering emails quickly and taking the time to respond thoroughly so the matter could be clearly understood. Highly recommended for any tax accounting needs!!

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    Super grateful to Drew and the team at Munro’s for their quick response and helpfulness! I reached out via their website to see about getting a referral for a comparable crypto tax advisor in the United States, as Munro’s seemed to be the best firm I came across in my research. Drew got back to me within hours and was kind enough to reach out to his network for a reputable contact. He directed me to a great firm and was quick, kind, and communicative throughout. Wish we were based in Australia so we could work with Drew and his team for all our tax advisory needs! Highly recommend.

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  • ★★★★★ — The Ramsay Family

    Wonderful support and response from the team at Munros. We have been with them for many years covering both business and personal matters. It is a credit to both past and present staff.

    Thank you

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    Friendly staff and excellent service. During the past five years, their team have provided very useful advice on tax savings. Their prompt response and well explanation to my questions are well worth Five Stars. Thanks Josephine, Christine and the team. Highly recommended without hesitation.

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  • ★★★★★ — Ward Adam

    The family began with Don Munro at Wesfarmers. Simon and his professional staff at Munros have continued to give excellent service and advice over many years. Lil Ward and Carol look forward to our association with you in the future. Congratulations on 50 years.

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    Great Firm. Have been dealing with Christine for a few years and she is always there for advice and willing to help. Highly recommend.

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    Congratulations Munro’s… on your 50th year celebration.

    It has been a pleasure working with you, since we opened our business 8 years ago. In particular, Ben Paul has been supporting us for the whole journey so far and we can highly recommend his expertise & friendly service.

    Geoff, Doug & Yvonne Harwood

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    We have been looked after by accountant Mr Carl Hansen. We are very grateful for his help on our tax matters. He is very thorough, knowledgeable and easy to approach. Highly recommend!

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  • ★★★★★ — ak jp

    We have been looked after by accountant Mr Carl Hansen. We are very grateful for his help on our tax matters. He is very thorough, knowledgeable and easy to approach. Highly recommend!

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    Thanks Drew, your guidance into my situation was very helpful. I’m sure your knowledge and expertise will be required in the future for ongoing decisions. Highly recommended!!

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    One of the best decisions we made was switching our accounting services to Munro’s. Especial thanks for Saul and Brian for their extensive knowledge, understanding our business requirement, goals and most importantly keeping us compliant. Extremely happy to engage with this organisation and team.

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    On behalf of our farming family, congratulations on 50 years. We have been with Munros 3 generations starting I think when My Grandmother switched at the start. My late Father always had good dealings with whoever was assigned to us which there have not been too many over the 50 years which I think may be a reflection of the stability and integrity of Munros. Simon Strawbridge who was the new kid on the block back in my fathers day and the rest of the team has always provided us with great service and we thank the whole team for their support over the years.

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  • ★★★★★ — Luke Bpob

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    I was looking for a business advisor for my small business in the Perth area and stumbled across Munro’s. On the website I was able to conveniently book an initial meeting with them to find out how I could achieve long term growth. One of their business accountants, Drew, promptly replied back and even helped accommodate a meeting on an earlier date. I met with him at their Perth office, and he was beyond helpful. After the meeting he followed up with an email, comprehensively outlining what we had discussed with great tips to help me move forward with growing my business. I really appreciated that Munro’s was willing to take the time to meet with me and help me even though my business is still a little too small to pursue Munro’s services. Drew didn’t try and upsell me and was so helpful and realistic with what I should do at this current stage in my business.

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  • ★★★★★ — Markus Mark

    Munro’s are an outstanding outfit mastering in complicated tax situations and are highly focussed on providing a client centred approach. I presented Saul with a complicated case of overdue tax’s and substantial crypto and share trading activity. To say that he handled this situation with aplomb is an understatement. He resolved my situation promptly and what seemed to be with ease. Sure it is great to have your taxes done by consummate professionals but for me this is not their best feature. It is the customer service that I received that was outstanding and exceeded my expectations. He was extremely patient and dealt with my constant questioning with a great attitude. Always polite and willing to offer his professional advice I sincerely felt like a had an ally in my corner. Saul was a pleasure to work with and I look forward to next years Tax Time.

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  • ★★★★★ — J T

    Drew provided clear and detailed advice on my crypto and personal tax matters, making everything easy to understand. Highly recommend!

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  • ★★★★★ — Duane Healey

    Great business accountants. Helped with company tax return. Convenient location and nice office in Perth. Special thanks to accountant, Drew Pflaum. Highly recommended.

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