Many of our clients are involved in a family business in some way.

Over the years, we have built up a huge range of experience and expertise to advise on the full range of compliance and advisory issues facing family businesses, specifically targeted to help you and your family achieve your aspirations and ambitions.

In our experience, family businesses have a dynamic all of their own and in the world of the family business there is simply no substitute for an adviser who truly understands and can empathise with the business and its owners and is able to balance the – sometimes tricky – mix of personal and business issues that can arise.

How our experts can help you

In addition to the challenges faced by any business, there are a number of specific issues that confront the family businesses. Some of the key problems are:

  • Timing the handover of the business from one generation to the next.
  • Ensuring that the generation retiring from the business is able to take enough value from it to give them a comfortable retirement, but at the same time not leaving the next generation taking it on with an unsustainable burden of debt, including working with other advisers to ensure an adequate pension and other financial provision.
  • Making fair provision for family members who are not involved in the business, balanced with those who are working in it and enhancing its value.

We can also act as a sounding board and give wise counsel, drawing on our vast experience gained from similar situations, even though that experience tells us that no two situations are ever exactly the same.

Our services

We offer a full range of services for the family business, some of the key ones include:

  • A personalised planning service, headed by our team of partners who have a wealth of experience giving strategic tax advice to family businesses and their owners.
  • Sound practical advice on the commercial issues around family businesses to ensure that all the different interests are taken into account.
  • Advice on capital gains tax and inheritance tax issues to ensure that, whatever your plan for the family business, the burden of taxation is appropriately managed and, wherever possible, kept to a minimum.
  • The use of trusts and other structures to hold business assets and ensure that as much wealth as possible is preserved in the hands of the family and the value of the family business passes as smoothly as possible from one generation to the next.
  • All of this is supported by our comprehensive compliance function to ensure that the affairs of the family business are up-to-date and in good order, including:
    • Accounting.
    • Statutory audit.
    • Corporation tax compliance.
    • Payroll and other outsourcing support.

Please contact our expert team to discuss a specific issue or to find out more about the services we offer to private wealth clients.

Contact Us

Mike Hodges
Partner, Manchester

Key experience

Mike is a tax partner with extensive experience advising wealthy individuals and entrepreneurs on tax planning and wider financial matters.