There are two main reasons for building a business: to generate income and to create a valuable asset for when you are selling your business.
For some entrepreneurs building a business for sale is their primary goal. They deliberately set out from the start to build value in their business.
Many business owners, however, set out to generate a good income for themselves. But that doesn’t mean the business has value as it’s generally built around the individual; so it has merely a nominal value. Some business owners discover they have created a business with some value that they can sell, but it’s business owners who build asset value that have a saleable business.
If you’re looking for a pot of gold at the end of the rainbow you must understand what is of value in your business, identify the weaknesses and address them.
Don’t rely on the stories of people getting pay-outs of ten times their earnings. You’ll need to plan carefully and well ahead of the sales if you want to maximise your return.
Support you in preparing structures and formulating finance packages for you to leave the business. Deferred consideration is often used to enable management to take over a business.
If you’re an existing shareholder in a company and want to exit, we can advise on your options, such as a company buy-backs of own shares. That is a popular and tax beneficial way for a business owner to retire from a business or to be bought out. We have dealt with many company buy-backs.
If you are passing the shares on to the next generation we can advise on the tax consequences.
Importantly, we’ll advise you on the inheritance tax consequences of your exit. In most cases, your business asset will qualify for business property relief and therefore be exempt from inheritance tax. Once you sell your business, however, the proceeds will most likely become liable to inheritance tax. It is therefore vital that the IHT consequences are high on the agenda when considering your exit.
Effective Web Solutions Rochester, Kent
Starting out in business can be a very daunting prospect as you enter the world of tax and employment law, as well as having to learn to undertake roles required in business, book keeping, management, marketing and sales etc. This is where I believe Friend & Grant Ltd differ from other accountants.
Friend & Grant Ltd is a modern, forward thinking and progressive company and is much more than just a firm of accountants. Their friendly and approachable staff are always my first port of call when I need any business advice and I trust them completely to manage my financial affairs in a 100% professional and tax efficient way. I have no hesitation in recommending the services and staff of Friend & Grant Ltd to any business. They have taken the time to understand my business and provide me with professional and knowledgeable service whenever I need it.
Starting a business can be one of the most exciting yet challenging times of your life. Friend & Grant have almost 30 years of experience as startup accountants and are perfectly placed to support new and growing businesses. After all, we started our company in 1992 and never looked back!
We’ll work in partnership with you to help grow your business. We’ll help focus on your goals and aspirations, as well as advise you on how to overcome the various challenges you face, from managing your finances to creating a business plan.
If you own an established business, we’ll help you plan the next chapter of your success story. We’re experienced in financial planning, helping you to reduce tax and maximise profits to achieve your business goals.
Are you hungry for success? If you run a small to medium size business and you want to grow your sales, increase profitability and pay less tax then you have come to the right place.
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