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.
"“ This is the second time we have used Tracey for the conveyancing to buy our new home. She is always completely approachable, she has helped us along the way with advice and useful tips that has helped lessen the stress. We have complete confidence in her and would not hesitate to recommend her to our friends and family”. - Peter Dawes, Cater Dawes Financial Planning "
"The ease that we could access and speak to Pat Smith - Thank you"
"This is by far the go-to firm for any issues. You are made to feel valued from the outset and they are so confident in what they do. Wouldn't recommend any other. Thank you Hugh and Max."
- Ros Jones
"Approachable, very efficient, always willing to take my calls and update me."
"I would like to say thank you for your help, support and guidance over the last two and a half years. Obviously should I need further assistance in the future I shall not hesitate to call you guys."
"Jade made the process of buying our first home quick, easy and took the stress out of a new chapter of our lives"
"I don't think this house sale would have pulled together without Jo's determination and expertise. Excellent!"
"Prompt, helpful, polite and very professional service"
"Jade Shelton was absolutely fantastic!! Professional and proactive at all times."
"We found Rachel Dawson outstanding, polite, professional and caring."