Tax & The Owner Manager - From Start Up to Retirement in One Day

Introduction

This full day course will review the options available to the owner manager client for tax efficient extraction of profits from a business during its life and then on cessation and thereafter whether by sale of the business or on succession.

The objective is to consider the main methods of profit extraction and to provide delegates with a framework within which to analyse the options available to their clients when starting a new business, during its life and then on sale or succession to the next generation.

The course is particularly applicable to partners and tax staff who are involved in giving advice to clients who are looking to sell or pass on their business in the medium term future and who will need tax planning advice about the issues arising.

What You Will Learn

This course will cover the following:

Income Tax and NIC planning:

• Review of the current options available
• Risks and opportunities likely to arise
• Consideration of HMRC attitudes to tax planning strategies

Capital Gains Tax Planning

• Identifying occasions of charge
• Business sale issues
• Business gift issues on successions
• Preparing for a sale
• Maximising Business Asset Disposal Relief
• Using Hold-over relief
• Using Roll-over Relief

Inheritance Tax Planning

• Review of the main occasions of charge
• Optimising the main reliefs
• Tax effective investments after sale
• Will planning for the owner manager

Other issues

• Cessation planning
• Succession planning
• Possible uses of trusts in planning strategies