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Owner managed businesses

Owner managed businesses are exposed to a wide range of tax issues and opportunities. Examples include:

Business structure

A business may be operated in the name of the individual who owns it, as a partnership or through a company. Each of these structures has different tax characteristics and changing from one structure to another has tax implications. 

Exit and succession planning

If you decide to sell your business, you will probably want to maximise the value you receive as a result of years of hard work. Tax planning, including optimising entrepreneurs’ relief, can help you to achieve this. Alternatively, you may decide to pass ownership of your business to the next generation. It is likely that you will want to avoid unexpected capital gains and inheritance tax charges when you do so.

Profit extraction

Where a business is operated through a company, profits can be paid out to the owners as remuneration or as a dividend, they can be lent to the owners or they can be paid to a pension scheme. Each of these alternatives has different tax consequences.
Advising owner managed businesses on tax issues requires a unique skill set involving both personal and business tax expertise. We have that skill set at Moore. For more information please contact Moore  business tax adviser.