Whilst your focus is going to be on your business from a day to day view, planning your exit or retirement is always a key element in your business.
Whether retirement is 10 or 40 years away, or if you plan to sell or pass your business on to others (staff / children), having an understanding of the options and setting your business up the right way to achieve this for maximum returns is vital.
The biggest issue is business owners generally only think of this once it’s a necessity, in most cases is too late to utilise tax advantages of doing it the right way.
- Did you know that “giving” away part of your company to your children will potentially attract a Capital Gains Tax liability?
- Did you know that your children, even at a young age, can be shareholders within your business?
There are many advantages of this, but also numerous pitfalls which you can accidentally fall into if it’s not done correctly.
If you’d like to find out more, why not arrange a call with us to see how we can help.