01844261155 mail@richardsons-group.co.uk

Succession planning & IHT planning

If you have spent many years building up a business, and would like to pass it on to future generations of your family, you will be keen to ensure that none of the value of the business is lost in the transfer. However, if you don’t plan ahead, it’s quite possible to incur unnecessary tax liabilities.

Similarly, if you are hoping to sell your business one day, perhaps to provide funds for yourself in retirement or to provide a legacy for your children, it is vital that the business and any sale is structured in a way that maximises the proceeds and minimises your tax liabilities. It is also important that you run the business with any potential sale in mind; just maintaining that frame of mind can help to keep your business focussed and efficient.

Finally, if you have funds or assets that you want to bequeath in a tax-efficient way, you must think ahead. Time spent planning and reorganising your assets now could save your family enormous amounts of tax in future years. Although it may be a difficult subject to talk about, you must not let that stop you from planning ahead.

For more information on how we can help in this area, please call or email Bernie Hawkes or Simon Husband. Our telephone number is 01844 261155.