The Effect of Applying Tax Exemptions on a Family Business
The exemptions and reliefs available on the succession of a family business can drastically reduce the tax bill when control is passed over.
Upon first glance, the tax due on the succession of a family business in the UK is among the highest in Europe. However, once various reliefs and exemptions have been applied the UK actually offers full exemption and no tax has to be paid.
These exemptions and reliefs may require some planning and preparation, but with a little bit of effort, the rewards and benefits can be huge, as illustrated by the case studies in the PDF.
Please download the PDF document to discover just how important it is to have a well-thought out tax planning strategy for the succession of your family business.