Business Planning

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Business planning never stops

Business planning is a process which needs to be revisited at regular intervals throughout the life of a business. Keep the momentum going by setting goals for your business and putting plans in place to achieve them.

Business Start Up

Once you have made that decision to start a business, we can advise you on

  • the most suitable and tax-efficient form for your business, e.g. a sole trader, partnership or corporate entity (limited company/LLP)
  • business record keeping
  • tax-efficient ways of taking money from the business
  • tax reliefs for the business
  • meeting tax compliance obligations (Income Tax, Corporation Tax, PAYE, VAT)

Business Expansion

As your business becomes more established, opportunities to expand will present themselves. Taking sound advice along the way will help you to navigate potential pitfalls and grow your business profitably.

Growing businesses need to consider:

  • whether the business structure is still relevant
  • options for restructuring the business
  • availability of specific tax reliefs, e.g. R&D tax credits
  • maximising capital allowances
  • VAT implications of growth strategies
  • funding requirements and tax implications for the business and its investors

Exit and Succession

At some point, you’ll want to consider whether to sell your business or pass it on to other members of your family to run. You might have decided that the time is right to retire, or you may have received an attractive offer from a prospective purchaser or an existing management team.

Careful personal and corporate planning can help you to retire, sell the business or restructure it in the most efficient manner and in a way most beneficial to you.

When you decide to exit your business, we can advise you on business valuation, how to maximise entrepreneurs’ relief and business property relief, tax-efficient restructuring for sale and helping you extract maximum value.

We also offer advice on capital gains and inheritance tax planning if you decide to pass ownership of your business to the next generation.

In summary, careful business planning carried out on a regular basis, combined with the right professional advice, can help ensure that your business enjoys a long and profitable existence.

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