Succession planning

All good things come to an end – or not necessarily.

Many business owners wind down a business as they themselves contemplate retirement.

But it is complex and you may need the support and advice of your accountant. If a business is based on the unique skills of the business owner then there may be no choice; there could be no business to sell. However in most cases there will be some residual value in a business.

We can help you to plan your succession.

It may be the business will be allowed to wind down and the owner maybe take on less work, work fewer hours, or work only for selected clients or customers. Alternatively there may be scope either to take someone else on with a view to passing the business to them, or seeking a buyer of the business when you choose to retire.

There are many variations on this but we can help as you approach the end of your business life with the following services:

• Winding up a business and extracting the residual cash in the most tax-efficient manner.
• Valuing businesses for potential sale to interested parties.
• Introducing new managers or other potential investors to buy out your interest.
• Advice on capital gains tax and reliefs available on the sale or liquidation of your business.

Contact us today on 01246 276671 and we can talk to you personally about your business succession plans.