In this article, we take a look at one method of succession planning in family-owned companies, using shares which are often referred to as 'freezer' and 'growth' shares. We also put the theory into practice with a case study example.
Many business owners, often having spent a lifetime building up their business, are keen to ensure that on their death, where possible, the business can continue, with the right management in place. Equally important to them is that the value of their interest in the business can be realised for the benefit of their family and loved ones, in a tax efficient way.
Most successful business owners are, understandably, focused on running and growing their business, but this often comes at the expense of putting effective estate planning measures in place. This can prove costly in tax terms, particularly so in the case of a sale.
Stephanie qualified into Womble Bond Dickinson's Private Capital team in September 2021, after successfully completing her two year training period
Stacey specialises in accounts and taxation for Trusts and has over 10 years experience working with private clients.
David is the managing director of Womble Bond Dickinson Wealth Limited, our Financial Conduct Authority authorised firm providing regulated financi
Rishi Sunak gave his Spring Statement on 23 March 2022. It felt like there was a fair amount of sleight of hand aimed at repositioning the Chancellor as a champion of traditional Conservative tax-cuts, following a period of significant tax increases responding to the COVID-19 pandemic.