Our approach
Our team have a wealth of experience in advising business owners, first to ensure we understand your aspirations and then to work with you in partnership, often over an extended period of time, to deliver an effective and tax efficient business succession plan.
Succession options we may explore with you include:
- Passing on the business within your family, via sale or gift and either directly or into trust.
- A trade sale to a third party.
- A management buyout, perhaps supported by private equity.
- A transfer to employee ownership.
- Occasionally, an orderly winding up of the business to maximise the value of its assets.
Once you’ve settled on a preferred course of action, our role is to ensure your plan is implemented tax efficiently and that you retain the maximum reward for all your hard work in building a successful business.
For example, by keeping abreast of the UK’s complex and ever-changing tax rules, we seek to:
- Derive maximum benefit from Business Asset Disposal Relief (see further below) to minimise Capital Gains tax liabilities on proceeds received.
- Use rollover reliefs to mitigate against ‘dry’ tax charges on gifts or transfers of assets for which no cash is received.
- Assess the bigger picture to legitimately minimise future Inheritance tax exposures.