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The following is an extract from our booklet: Keeping your business in the Family Many owner-managers of small business assume that, in due course, they will hand the business down to the next generation of their family. Surprisingly, statistics show that this happens in only a minority of cases. That’s fine if it arises from deliberate choice but, often, it happens from lack of foresight or expertise, leading to:
The aim of our Succession Planning booklet is to describe some of the factors you ought to be considering if your objective is to keep your business in the family. At Keelings, we pride ourselves on our record in assisting and advising owner-managers, both in the general running of their businesses and in the handover to the next generation. Under the heading Special Features of a Family Business, we discuss some of the common issues and offer solutions. In Minimising the Taxman’s Take, we outline the difficulties of understanding Inheritance tax, Capital Gains tax and tax reliefs. Finally, we address Implementing the Handover; touching on the main issues. Keelings’ experience of working with family firms is extensive. Our key message is for you to plan ahead - we shall be pleased to advise you further. For more information or a copy of our booklet, contact us. |
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