Corporate Finance

Corporate Finance & Succession Planning

At Lumina, we support entrepreneurs, family businesses and growth-focused SMEs through every stage of their journey - from expansion and acquisition, to exit and succession. Whether you’re buying a business, planning to sell, or considering an Employee Ownership Trust (EOT), our Corporate Finance & Succession Planning specialists combine commercial insight with technical expertise to help you achieve the best outcome.

Buying a Business

Strategic growth starts with the right deal.

Acquiring a business can accelerate growth, enter new markets, or add valuable capabilities - but only if the numbers and structure are right.

We support you through the entire acquisition process:

• Partner in acquiring businesses - We help you identify opportunities aligned with your strategic goals, assess fit, and manage negotiations.
• Tax implications when buying - Our tax specialists ensure the deal is structured efficiently, minimising liabilities and surprises post-acquisition.
• Due diligence - From financial health to commercial risks, we dig deep to uncover the insights you need to make informed decisions.

Selling a Business

Selling your business is a significant financial milestone - often the most important one you’ll face as an owner. It can also be a challenging process, especially when you’ve spent years building the business from the ground up. You’ve invested time, energy and passion into building your business - and now it’s about protecting that value and ensuring a smooth transition.

At Lumina, we help you take a structured, strategic approach to your exit. Whether you’re looking to sell now or starting to plan ahead, we ensure the business is ready, the numbers make sense, and the process is managed professionally from start to finish.

We’ll guide you through:

• Preparing your business for sale - We work with you to get your finances, operations and team in shape - building a strong, credible proposition for potential buyers.
• Valuation - Our valuations are robust, realistic and grounded in deep market knowledge. We help you understand what your business is worth - and how to increase that value before going to market.
• Tax and structuring the sale - A well-structured deal isn’t just about price. It’s about timing, tax, and long-term goals. Our team ensures your exit is as tax-efficient and financially sound as possible.

Selling your business - whether to a third party, management team or through another route - is a major decision, and one you want to get right first time. Partnering with an experienced team who’ve handled the process time and again gives you the insight, structure and support needed to deliver the right outcome.

Employee Ownership Trusts (EOTs)

If you're looking to exit your business but want to preserve its culture and reward the people who helped build it, an Employee Ownership Trust (EOT) can be a powerful alternative to a trade sale or management buyout.

What is an EOT?

An Employee Ownership Trust is a government-backed structure that allows business owners to sell a controlling interest in their company to a trust set up for the benefit of employees. The trust becomes the majority shareholder, and employees collectively benefit from the company’s ongoing success.

It’s a model that’s increasingly popular with SME owners who are looking to exit responsibly, retain the company’s independence, and avoid the disruption often associated with private equity or external buyers.

Why choose an EOT?

• Capital Gains Tax relief - If structured correctly, the sale to an EOT can qualify for 100% CGT relief, meaning you pay no tax on the disposal of your shares.
• Business continuity - EOTs avoid the upheaval that often comes with external buyers. Management and staff remain in place, and the business stays focused on long-term growth.
• Cultural preservation - Rather than handing control to an unknown buyer, EOTs keep the business in the hands of the people who know it best.
• Motivated workforce - Employees become more engaged and invested in the business’s success, often leading to stronger performance and retention.

Who is eligible?

While EOTs offer many advantages, not all businesses will qualify. HMRC sets strict criteria that must be met, including:

• The trust must acquire more than 50% of the company’s shares.
• The company must be a trading company, not an investment vehicle.
• The trust must operate for the benefit of all employees - for example, bonus payments must be offered on broadly equal terms.
• The previous owner(s) must not retain significant control after the sale.
• The trustees of the EOT must be UK tax resident
• The sale to the EOT must take place at market value and a formal valuation of the company is required.

Failing to meet these conditions can trigger a loss of tax relief or penalties, so it's vital to get the structure right.

Why Lumina?

The EOT process involves multiple stages - valuation, legal setup, financing structure, HMRC clearance, communication planning, and more. It’s complex, and mistakes can be costly.

Lumina’s team has extensive experience guiding SME owners through every stage of the EOT process. We work alongside your legal advisers to design a structure that’s compliant, commercially viable, and aligned with your long-term goals. Our support includes:

• Initial feasibility assessments
• Business valuations
• Deal structure planning
• Tax and HMRC compliance
• Support with communications and transition strategy

Selling to an EOT requires careful consideration. Our role is to provide clear, objective advice - often through a detailed succession planning report - that outlines your options, highlights key tax implications, and identifies the wider strategic and operational factors you’ll need to think about. It’s about making sure the decision you make is the right one for you, your business, and your team.

Partner with Lumina

Whether you're planning to grow through acquisition or preparing for your exit, Lumina’s corporate finance team is here to support you.

We combine deep tax expertise with real-world commercial insight to guide you through complex transactions and help you make informed, confident decisions.