Exit readiness quiz

It is a check of how prepared your business and your own tax position are for a sale, ideally carried out well before you go to market. It looks at reliefs, structure, compliance, share schemes and how the price will be paid. The quiz gives you a quick first view, and a full review by an adviser confirms the details and what to fix.

Each answer carries a score, and your ten scores add up to a total out of 100. The total places you in one of three bands: Well prepared, Some work to do or Start planning now. Answers that point to a common issue also add that area to your Where to focus list, with a link to more detail.

The ten questions cover your timetable, whether you meet the Business Asset Disposal Relief conditions, surplus cash, property, family shareholdings, tax compliance and employee share schemes. They also ask whether you've compared exit routes, how you'd want the price paid, and whether you've planned for inheritance tax after the sale. These are the points that most often cost sellers money or slow a deal down.

The quiz gives a general indication only and isn't advice. It can show where common problems are likely, but it can't check the detail, such as whether your company counts as trading or whether your share scheme paperwork is complete. Even a high score is worth confirming with a specialist before you agree terms with a buyer.

No. The quiz runs in your browser, and your answers aren't stored or sent anywhere. If you accept analytics cookies, we record only that the quiz was completed, not how you answered. You can go back to change an answer as you go, or start again once you've seen your score.

Each flagged area comes with a short explanation and a link to more detail. Most issues can be fixed, but some need time, because Business Asset Disposal Relief looks at the two years before a sale. To talk through your results, book a call, email taxadvisory@aswatax.co.uk or message us on WhatsApp, and we'll reply within one working day.

Ideally at least two years ahead, because the Business Asset Disposal Relief conditions must be met for the two years before the sale. Starting early also gives you time to deal with surplus cash, property and family shareholdings, and to tidy up compliance before buyer due diligence. If a buyer has already approached you, it's still worth acting quickly.

Small holdings, and shareholders without a formal role in the business, often don't qualify for Business Asset Disposal Relief. To qualify, each person broadly needs at least 5% of the shares, votes and economic rights, and to be an officer or employee, for the two years before the sale. Some of this can be fixed, but only with enough time.

Selling can turn shares that qualify for Business Relief into cash that usually doesn't. That can leave your family facing inheritance tax on money that was previously protected. Planning before the sale gives you more options than dealing with it afterwards, so it's worth raising early with your advisers.

Keep corporation tax, VAT and payroll up to date, settle any open HMRC enquiries and make sure share scheme paperwork is complete. Deal with surplus cash and property the buyer may not want before you go to market. Buyers' tax due diligence will find loose ends and use them to negotiate, so reviewing your own position first lets you fix or disclose issues on your terms.