Succession Planning for the Family Business- Tax Implications

Many family business owners have the objective of passing on their business to the next generation. Such a strategy can have capital gains tax, inheritance tax and possibly income tax implications and careful planning is required to avoid potential pitfalls.

The £5,000 dividend allowance has also encouraged companies to give some shares to family members and then pay them £5,000 tax free - does that work?

The course will also cover passing some or all of the business to the management team, including the use of EMI share schemes and Employee Share Ownership Trusts.

• CGT implications of giving shares to family members - taking advantage of gift of business asset relief
• The chargeable business assets restriction
• IHT implications of giving shares to family members
• What about using a family trust?
• Dividend waivers and dividends on alphabet shares
• Is Form 42 required to report the share transfers and income tax due?
• Purchase of own shares to buy out the founder
• EMI share options for the management team
• Tax advantages of using an Employee Share Ownership Trust