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

Our team of wills, tax, trusts and probate solicitors works closely with our Commercial Team who are highly experienced in advising on structures to deal with these issues having extensive knowledge in advising on tax efficient arrangements. In some cases it may be appropriate to look at trusts for holding shares in the business thus creating the flexibility to separate the control and management of the business from the equity and benefit.

Our Private Client - Wills, Tax, Trusts and Probate solicitors have in depth experience in the establishment of trusts. (You may also like to view our page on Trust Formation/ Administration).