The splitting up of a business, for example by separating its assets or ownership between the parties. In financial cases involving a family company, the court can direct an expert to report on how a demerger could be carried out and the tax consequences of doing so.
In Plain English
The process of splitting up a family business so that the assets or ownership can be divided between both people. The court may ask an expert to explain the best way to do this and what the tax costs will be.
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