Lauded for its convenience and lack of dependence on a central authority as much as it is derided for its unpredictability and the anonymity it grants criminals, global digital phenomenon Bitcoin is spreading to every corner of the world and transforming the very essence of monetary transactions. The question is however,is it safe to use Bitcoin in business transactions and what are the tax implications of doing so? A few things to keep in mind are:
Australia’s leading legal news portal Lawyers Weekly recently quoted Pitcher Partners and Mergermarket’s M&A report, Dealmakers: Mid-market M&A in Australia 2018 noting further growth in mid-market M&A would be expected in 2018, but due diligence would be a focus of improvement.
Generally speaking, due diligence provides you with a detailed understanding of the business, allowing you to have a balanced and informed view should you proceed with the M&A transaction.
Focus of due diligence
The focus of due diligence should be on structuring the deal and mitigate the deal risks. Overreliance on financial issues often underestimates the importance of understanding the business and its inherent risks which in turn causes delays in the due diligence process.
How we can better assist your needs
In Linton Advisory Group we perform a comprehensive review considering a vast range of factors, such as:
- Business performance
- Business growth
- Business risks
- Management information systems
- Succession and estate planning
A successful business purchase is about doing your homework upfront and making sure you are well prepared. If you are planning to complete due diligence on a business or even to acquire assets, you need to speak to the specialists team from Linton Advisory Group.