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Many business owners still have an involvement with the business after they “retire”. This may be in a non executive director capacity or perhaps through a continued ownership interest or indeed via a corporate earn out.
We can advise you on the most efficient ways of structuring these ownership interests and the opportunities available to mitigate the tax exposure of ongoing earned income.
For example, if the business is being transferred to the next generation, the current business owner may still require a substantial purchase price to finance their retirement lifestyle. This price may be beyond the means of the purchasers at this present moment in time. Opportunities exist for business assets such as commercial buildings to be transferred into a pension structure that not only generates valuable tax relief to the current owner but also means that the business can be sold at a lower price without detriment to his/her retirement lifestyle objectives.
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