Succession planning...TAX! Life cycle of a business series

Megan and Alanah chat to tax specialist, Emma Walker, about succession planning and the personal tax implications involved in selling your business. They touch on topics such as the timing of exiting a business, the sale of shares, and the tax rates and conditions for business asset disposal relief. They also mention the upcoming Budget and potential changes to capital gains tax.

Emma also provides insights into your personal tax considerations when succession planning. She looks at the tax implications of selling or gifting shares in a business, lifetime allowance, stamp duty on shares, inheritance tax, and business relief.

Timestamps:

• 00:51 -  Autumn Budget 2024 expectations
• 01:58 - Selling your business Budget expectations
• 03:00 - Sale of shares - CGT
• 06:20 - Rates on share disposal
• 08:00 - Business Assets Disposal Relief formally Entrepreneur Relief
• 11:20 - Lifetime allowance
• 12:36 - Gifting shares/Family business passing shares down
• 14:08 - Options other than gifting shares inc Gift Holder Over Relief
• 16:40 - Stamp duty
• 18:00 - IHT Inheritance Tax
• 21:20 - IHT - Business Relief
• 23:05 - Check your Will!
• 28:15 - Emma's top tips

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This presentation is designed for the information of viewers. Whilst every effort is made to ensure accuracy, information contained in this recording may not be comprehensive and should not be acted upon without seeking professional advice.

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