The sort of question that often faces the owner of a family business is how to leave it amongst his or her children or grandchildren bearing in mind that not all of them may want to be, or be able to be, involved in the business. The owner will want to minimise Inheritance Tax and Capital Gains Tax and protect the control of the company and may also be concerned as to how it will be possible for the business to continue to provide for his own financial requirements after he has given up the reins.

Our team of Tax and Succession Planning solicitors working closely with the Commercial team, are well versed in advising on structures to deal with these issues having many years of experience advising on tax efficient arrangements. In some cases it may be appropriate to look at trusts to hold shares in the business to create the flexibility to separate the control and management of the business from the equity and benefit.

Our Tax and Succession Planning team has a wealth of experience in the establishment of trusts. (You may also like to view our page on Trust Formation and Strategy).