PASSING ON OR SELLING YOUR BUSINESS
Planning for the passing on of your business to the next generation or planning for the future sale of your business to a third party is an essential but often overlooked element of the business life cycle, from a taxation perspective.
The lack of proper tax planning can result in the next generation having to sell business assets in order to discharge their taxation liabilities and in the case of sales to third parties, the lack of a proper exit strategy can result in a large portion of the sale proceeds being used to settle liabilities.
Planning and implementing structures for the tax efficient handover or sale of your business needs to be carried out many years in advance of the actual exit taking place. Our taxation team can assist you to put the proper structures in place to enable you to maximise the available reliefs and minimise any taxation liabilities which, without planning, can lead to disastrous results.