We can't go on like this!
During the lifetime of a business some opportunities will arise where you can benefit from a change in its basic structure. Sole traders and partnerships can evolve into limited companies. Businesses can grow through acquisition or consolidate through the disposal of some part of the operation. Investment normally requires the release of some equity. Looking to the future younger family members can be brought into the business. Finally the business can be disposed of altogether.
Some of the above are planned years in advance, some happen almost immediately. Managing the change carefully is an important process that requires specific skills and knowledge in order to ensure that maximum benefit is gained both commercially and personally.
Our business management and personal tax staff work together to make sure that as far as possible all your options are kept available and you gain maximum advantage from any.