RETIREMENT / EXIT PLANNING

The decision to sell a business can be a difficult, emotional and often very stressful. Ensuring you have the right advice and expert knowledge from the beginning can help to make the process of selling a business easier and more efficient.

Whether you are a sole trader, partnership or limited company, it is important that you fully understand the financial and tax implications and the legal responsibilities involved when preparing a business for sale in the UK.

If you are just starting out in business, thinking about your retirement may not be your immediate priority, however based on our experience we advise our business clients to start planning for retirement as early as possible.

There are so many options on how best to retire but the key is to have a retirement plan in place well in advance to ensure that you take advantage of the tax reliefs available and ensure you get the best retirement package possible.

Implementing a sound succession plan for your business now could save you valuable time and money in the future. It will also ensure that you leave your business in a strong position for your successor.

You may be looking to incentivise key employees with share option schemes, or looking to introduce the next generation. Our team of experts will guide you through the choices available in order to meet your personal objectives, and advise on the most suitable succession plan for you and your business.

You may decide that your owner-managed business is so unique that the only option to exit is to liquidate the business.

Depending what the value of the business is will depend on how you need to approach it. We can advise you on the path you will need to take to ensure compliance with HMRC rules.