When selling your business, you will typically need financial statements, tax records, commercial contracts, employment information and documentation relating to the company's assets and liabilities. Buyers use these records to assess financial performance, identify potential risks and complete due diligence. The exact requirements depend on the size of the business and whether shares or assets are being sold.
Prepare documents across three main categories:
- Financial records: Recent annual accounts, management accounts, tax returns, VAT records, cash flow information and details of outstanding debts.
- Legal and commercial documents: Customer and supplier contracts, property leases, intellectual property records, insurance policies and relevant licences.
- Operational and employee information: Employment contracts, payroll records, organisational structure, key processes and information about important business assets.
For example, if your business operates from leased premises, buyers may request the lease agreement to understand rental costs, remaining terms and any restrictions on transferring the lease.
You may also need transaction-specific documents, such as Heads of Terms and a Sale and Purchase Agreement, as negotiations progress.
Organising these records early can reduce delays and make your business easier for buyers to assess.
Read more: What Happens During Due Diligence When You Sell a Business?
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