Managing Change

Succession And Exit Planning

If a business is to continue trading beyond the working life of its key owners or directors, then careful planning is needed. Factors that those involved in the business will need to consider will include:

• The departing owner/director’s income needs in retirement and what resources are available to provide for those needs.
• The feasibility of the business without the individual – the impact on customers and investors and what effect this will have on its viability.
• CAPITAL GAINS TAXCAPITAL GAINS TAX
  The tax payable on profits made on the sale of assets or property other than your home. and INHERITANCE TAX (IHT)INHERITANCE TAX (IHT)
  Tax payable after you die on the value of your assets in excess of a certain threshold value. Certain gifts between husband and wife are exempt. IHT is also chargeable in certain circumstances while you are still alive. implications on any sale or transfer of shares in the business.

We will work with your accountant or other advisers to ensure that the right pension and investment arrangements are put in place to achieve the objectives of both the departing director/owner and those in whose hands the business has been left.

Contact us for a preliminary discussion about those objectives, and to set up a programme for a successful transition.