Harold Sharp can help you establish the best choice for your business structure and advise you on when that might usefully change.
Choosing the right ownership structure for your business is very important, for taxation, commercial, and legal reasons, at the start of your business; and it should be kept under regular review throughout the business’s entire life cycle.
Getting this right, to suit the needs and circumstances of the business and its owner(s), can save an enormous amount of tax, avoid a whole lot of risk and remove a significant amount of anxiety from your working life.
In the UK alone, there are a whole host of options for “business vehicle”, including personal ownership, joint personal ownership, general partnership, Limited Liability Partnership (LLP), limited company, trust ownership, pension fund, all with very different features, benefits and tax implications. Taking advice and planning your structure with experienced assistance, are highly desirable.
How can we help?
Reorganisation of business ownership structure is part of Harold Sharp’s specialist advisory services. For more information, click here to consult our brochure on business ownership structure, which looks at three common revisions of structure:
- incorporations (and dis-incorporations)
- holding company insertions (and divisionalisations)
- demergers and partitions
If you would like to discuss whether reorganisation of ownership structure might be appropriate for you and your business, please contact Chris Barrington, Tax Partner.
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