Exit planning is perhaps one of the most critical elements of a company’s life cycle. If not planned correctly the negative financial impact for the company and individuals involved can be significant.
Unfortunately the dream for business owners of spending a life of hard work building up a company of value and then simply retiring is not always the reality, and the lack of an effective succession plan when exiting a business is the final hurdle that many people fall at.
Exiting your business can be a complex process, but for many it provides the opportunity to reap the financial rewards for those years of hard work. Although exit planning is not always at the forefront in the mind of most business-owners, whether you sell your business or wind it up, it is essential to plan your strategy carefully from an early stage.
There are several exit planning strategies that taylorcocks can advise on and help implement, and with our specialist tax expertise, you can be sure that we will find the most tax-efficient and effective method for you to exit your business, as well as guiding you strategically to ensure that this is a smooth process.