Business Succession (APR 2020)

Without the appropriate business succession strategies your spouse/partner and children may not inherit the share of a business, business partners may not be able to buy out the deceased's share, the surviving spouse and children may be obliged to take over the running of the business,  the value of the business could depreciate owing to the inexperience of any beneficiary and the business may have to be sold and the proceeds become liable to Inheritance Tax.