Succession Planning
Many entrepreneurs want to pass the family business on to their children or other family members to ensure that their legacy lives on. However, passing on the family business is usually easier said than actually done. It is a complex process that needs to be considered in some detail. Points to note are:
- How much involvement would I like with the business moving forward?
- Is the business my sole source of income, if so, if I pass it on can I afford to do so?
- What are the consequences of passing the business on?
These are difficult decisions with which we can help. Our specialist team will ensure that not only will you pass on your business in a manner that is appropriate for you, but also do it in a tax efficient manner.
Please contact Matthew Hindle on 01772 430000 or email mjh@wnj.co.uk for further information.
