I have a Family Business and I am concerned about Inheritance Tax

I have a Family Business and I am concerned about Inheritance Tax

Do you have a Family Business that you would like to see passed on to future generations?

You may want to consider putting a share of the business into trust. You are able to transfer part of your business into trust that would be held by trustees. The trustees could be you and your spouse or other family member. The shares would be held for the benefit of your family but not you or your spouse.

The advantages of such an arrangement are that you would be able to take full advantage of Business Property Relief whilst protecting the assets for your future generations. By transferring a share you would be reducing your estate for inheritance tax thereby preserving your estate by preventing a crippling tax bill that may inevitably force the sale of part of the business in order to meet the tax liability.

Although a share would be transferred to the trustees, if you were a trustee you would still retain control of the business, the appointment of future trustees and the votes attached to trust shares.

If you believe this arrangement may be of benefit to your family business our experts in trust, tax and company matters will be able to guide you through this complex area.

Importation & E-fulfilment Adviser
Chartered Legal Executive and Associate
Chartered Legal Executive, Associate
Chartered Legal Executive Associate
Blog Posts

Is your fulfilment business under threat?

07/08/2017

The Fulfilment House Due Diligence Scheme - the new weapon in the war on…

Read More
Upcoming Events

FREE Seminar – Planning your future

11/09/2017

Gotelee Solicitors invite you to a FREE seminar which will provide you with some…

Read More
News Posts

Ruling means employers may soon have to deal with problems they thought were closed

19/09/2017

The Supreme Court’s decision to rule that Employment Tribunal fees are ‘illegal’ and a…

Read More

Testimonials

"Friendly and helpful staff. A smooth and efficient legal service."

- MR

"Professional yet friendly service available from a conveniently located office."

- JR

"Clear, helpful advice, polite and friendly, prompt attention."

- GP

"High degree of professionalism whilst remaining sympathetic and friendly."

- PC

"Helpful and swift service, delivered in a friendly and approachable way."

- AC

"Gotelee inspires a sense of calm, confidence, trust & history."

- PB

"Determination, patience and diligence of Chris Moffat."

- MLP

"Diana really seemed to care and made the whole process as painless as possible."

- PL

"Rhonda Pryke was very helpful, explained what was to happen, dealt with queries very efficiently."

- DH

"All reception staff very friendly, Hilary Durrell made everything simple so I could understand what was needed."

- AD

Please select preferred method of contact

* We will only contact you by telephone if you select this as primary form of contact.