Case Studies

Yes. Each case study is based on a real demerger or reorganisation our team advised on. They're anonymised, so they show the sector and a value band for the group, but not the client's name or anything else that could identify them. We don't publish invented or composite examples. The facts are kept as they happened.

Demergers often involve private family and shareholder matters, property values and plans to sell, so we don't name clients or include identifying details. Anonymising the case studies lets us show the kind of problems we solve and the routes we use, while keeping our clients' affairs confidential. Clients can trust us with sensitive plans.

Each one sets out who the client was in general terms, what they wanted to separate and why, the steps we used, the HMRC clearances obtained and the outcome. It also gives the sector and a value band, so you can judge whether the situation is similar to yours. Most also answer common questions about that type of demerger.

An exact figure could help someone identify the client, especially in a local market or a specialist sector. A band, such as £20m to £50m, shows the scale of the group without revealing who it is. We mainly advise owner-managed groups worth roughly £1m to £50m. The band is enough to show the kind of group involved.

Not necessarily. Every demerger depends on its own facts: whether each business is trading or investment, how the shares are held, the reserves available, any planned sale and what each shareholder wants. The case studies show how similar issues can be handled, not a guaranteed result for you. We'd look at your facts first.

Get in touch and tell us about your group. A senior adviser can tell you which points are likely to apply to you and which aren't, and outline the routes worth considering. The first conversation is confidential and without obligation, and we respond the same working day. Mention the case study when you get in touch.

Only in general terms. To protect confidentiality, we won't share details that could identify a client. On a call, though, we can explain how similar situations are usually approached, why a particular route was chosen over the alternatives and what to watch for in your own case. That's usually more useful than more detail about someone else.

Our team has made more than 50 HMRC clearance applications, and 100% of the clearances applied for were obtained. Across that work we've helped separate more than £100m of assets, in groups up to £40m. The case studies here are a small, anonymised selection. Our team has more than 15 years' experience in this work.

Not all, though separating property from a trading business is one of the most common reasons for a demerger. Other common situations include shareholders who want to go their separate ways and families dividing a group between the next generation. We'll add more examples as clients give permission. Each one names the situation it covers.

In each case study we explain which clearances were sought and what happened. Across all our work, 100% of the HMRC clearances we've applied for were obtained, across more than 50 applications. That reflects careful preparation, but clearance always depends on the facts and on HMRC's view. We never promise an outcome in advance.

Because many demerger routes need one. Inserting a new holding company through a share-for-share exchange can create the structure the later steps rely on, for example so that a capital reduction can be made at the right level. Where the conditions are met, the exchange can usually be done without an immediate capital gains tax charge.

Not really. The cost of a demerger depends mainly on the number of companies and steps, whether a liquidator is needed and how complex the clearance applications are. A case study shows what was done, but the right route for you depends on your own facts, which we'd discuss on a call.

They show what can be achieved when the steps are planned in the right order and clearance is obtained first. They are not a promise that every demerger can be done without tax. Sometimes a small amount of tax is unavoidable, or a relief isn't available, and we say so at the start.

They show the kinds of problems an adviser has dealt with in practice. When comparing advisers, ask whether they've worked on demergers like yours, which routes they've used, how they handle HMRC clearances and who will actually do the work. Specific answers are a good sign. Vague answers are a warning sign.

Only with your permission, and always anonymised. Once your demerger is complete, we may ask whether we can describe it in general terms. You'll see the wording before anything is published, and you can say no without it affecting our work for you. Some clients prefer not to be featured at all, and that's entirely fine.