The business structure is setup a LLP, rather than a LTD. If I were to buy the business, I would have to start my own Limited or similar. The LLP is setup for the current owner as an investment vehicle, and puts through many expenses to bring their tax bill down to minimal, which provides them a nice hefty chunk of their net profits.
Someone has suggested that before I agree to the business is actually go and work in the business for a week or two to see if the business is what I want, and to have an idea if the numbers they are saying are correct, which I agree with.
A point was raised with me saying do I want the hassle of a business earning “only” 30k a year, when some jobs can pay more than that. My goal is to own a couple of similar businesses a year or two down the line, all generating over 30k a year. I see this as a business that is mature, and something I can progress onto other things with.
This is the first time I would be buying and operating a business.
I didn’t find the right solution from the Internet.