Business Exit
Ward Goodman Case Studies
Exit Strategy
Business Exit
As part of our Business Advisory Service we are always looking at the past present and the future, and linking these with both the business goals and objectives and the personal goals and objectives. One of these recent meetings has seen one of our long-standing clients now looking to exit their business and whilst this has been a consideration for some time, I had been felt that now is the right time.
Every business owner has a value in mind for their business and our client had a figure in mind, and though most companies use this as the basis for advice, with the collaboration of the financial services team we were able to support the client in understanding what would be needed to continue to support their current lifestyle after their exit from the business.
The group structure business included a holding company, a trading element and a property and investment company. One of the assets in the property and investment company was a residential property and the client was clear they wanted to keep it under their ownership.
Ward Goodman's Solution
We worked with our Private Client team in the consideration of retaining the company as a family investment company or stripping the assets out.
The team provided a report on the potential tax implications from the different routes that could be taken to exit from the group. We gained additional vital knowledge that there was an emotive reason for the desire to hold this property personally, and whilst this may not have been the most tax efficient route, we were able to facilitate this in the most tax efficient way to meet those emotive objectives.
It has been through the collaboration between our Business Advisory, Private Client and Financial Services teams that we were able to extract the property by :
- Utilising the tax efficiencies between the shareholders.
- Utilising the groups ability to benefit from intercompany account transactions.
- Minimising the corporation tax position with pension contributions.
- Equalising the remuneration strategy both from the business and external investments.
To provide the additional support, we identified a selection of specialist business brokers and attended those meeting with our client to support them through the decision of selecting the right broker to work with through the next phase.
Our Financial Services team then worked with the client and supported them with their personal investments and provided them with a forecast for what different levels of personal spending would mean for their net worth and what would be sustainable following the exit from the business.
Client Case Studies
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