With succession planning, the key to your future is to plan ahead.
Starting early is the key to successful succession planning. At Stephenson Smart our accountants work with you to ensure your long-term goals are fulfilled, whether that is selling your business or simply handing over the reins to others.
We specialise in helping business owners to achieve the highest value for their business and keep as much of the proceeds as possible by minimising any tax liability.
Our advisers have the most impact when engaged early and can make a significant difference if succession planning starts at least two years before a planned exit.
We can also help you identify the critical roles, determine suitable successors and ensure their retention with tax efficient benefits such as the Enterprise Management Incentive. Crucially, we can also provide business advice, as and when required by the new management, to help bridge the succession gap.
Martyn Benstead, partner at Stephenson Smart’s Fakenham accountancy office has helped guide Des, Jake and Leanne at Des Cooper Haircutters through the Succession Planning process.
Des said: “Martyn has been a great help through the negotiations. He has advised us on how the business can be structured. He explained the routes that we could take to structure the business going forward and what would be a fair split of assets. He has really helped with the process, often in the role of mediator!”
Let Stephenson Smart help with:
- A succession plan
- The structuring and financing of succession
- Estate and inheritance tax planning
- The implementation and effectiveness of your chosen strategy
- Business issues, which may affect your strategy
If we can support you with succession planning, please contact us.