A clearer basis
for an ownership exit.

A buyout needs more than a percentage

An owner’s exit can involve a share price, repayment of a shareholder loan and separate payment terms. Keep these components distinct. Record the share class, voting rights and interest being transferred, and establish whether a contract defines the valuation process. Legal and tax implementation require their own advice.

Compare like with like before comparing conclusions

Two reports may use different dates, earnings measures or assumptions about debt and cash. One may value the whole business while the other values an individual holding. Build a comparison of the starting information and basis before treating the difference as a disagreement about a multiple.

Illustration: the value of the holding and the loan

Suppose company equity value is illustratively £800,000 after correctly treating a shareholder loan as debt. A simple 25% pro-rata calculation is £200,000. If that shareholder also owns a £40,000 loan receivable, it is a separate claim whose treatment must be agreed. This is not a conclusion that the exit payment is £240,000: share rights, the valuation basis, loan recoverability and transaction terms still matter.

Make an evidence schedule

For every material earnings adjustment, show the reported amount, proposed change, supporting record and whether the other party agrees. Identify missing information rather than treating a disputed assumption as a fact. The schedule can make a negotiation more focused even before the final valuation is prepared.

Check the appointment route early

We assess independence, conflicts and suitability before accepting dispute work. A shareholder’s advisory valuation, a jointly instructed determination and formal expert evidence are different appointments. For civil proceedings in England and Wales, court permission and expert duties are governed by the relevant rules. Other jurisdictions and procedures need separate consideration; formal expert-witness services are not assumed to be included.

Discuss the scope before sending records

Use the enquiry form to explain the ownership issue and any deadline. We can consider whether an ICAEW Chartered Accountant-prepared valuation is appropriate to the required decision, and agree the information request, output and fee before work starts. No outcome or agreement by the other party is guaranteed.

Your enquiry checklist

• Current cap table and shareholder loan balances
• Articles, shareholder agreement and exit process
• Accounts at the relevant date and adjustment schedule
• Details of existing advice, proceedings and recipients

Explore affordable valuation scope and fees before commissioning.

Procedural reference: Civil Procedure Rules, Part 35 (England and Wales). Checked 10 October 2026.

Questions before commissioning