taxation

selling your business/passing it on to the family

At some point in your business life, you may decide to sell your business, in order to see a return for all your hard work, or you may simply wish to retire and either sell your business to give you a nest egg or even pass on your business to the next generation. Inevitably, there will be taxation consequences when you dispose of your business and you will need to consider the impact of Capital Gains Tax and Inheritance Tax, plus the impact of income tax on your future income/earnings.

As with all tax planning, the key is ensuring that any relevant action is taken before you actually go ahead with any sale or transfer. Providing that you do plan ahead, there is no reason why disposing of your business should be difficult or unnecessarily expensive. Here at Stiles and Co, we can assist with all aspects of this matter, to ensure that any tax liabilities are mitigated and that your proceeds are maximised.

Here at Stiles, we can complete the complex calculations to review how to ensure that any tax liability is minimised.