Agree what is being sold and what is left behind, how the price is split, how staff transfer under TUPE and how VAT is dealt with as a transfer of a going concern.
Selling or exiting a business
Heads of Terms – Asset Sale
About this document
Heads of terms for the sale of a business and its assets (rather than the shares of a company). They record the assets included and excluded, the liabilities the buyer will and will not take on, the price and its apportionment, and how employees, contracts, premises and VAT will be dealt with. Exclusivity, confidentiality and costs are binding; the rest is subject to contract.
The document is laid out in the sections below. Each one comes with a plain-English guidance note explaining what it does and what to change.
Our templates are professionally structured starting points for UK businesses, not legal advice. For anything complex, unusual or high-value, have your final version checked by a solicitor.
Included in the pack
Selling or exiting a business
for every document in this category
Editable Microsoft Word files
Guidance notes in every document
Written for UK businesses
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