Tax
Business Structuring
Whether you are starting a new business or changing an existing one, we can design a structure that is tax efficient today and as your business grows. Even a few simple changes can help improve profitability and protect your future.
When should you consider your business structure?
A periodic review of your business structure is always advisable. However, if carrying out any of the following it should definitely be considered.
- Acquisition of a new business
- Set up of a new business operation
- Preparing the business or a part of the business for sale
- Succession planning (management or family)
- Reorganisations, mergers and de-mergers
- Reductions in share capital
- Company Purchase of Own Shares
How can we help you?
As your business changes, the most appropriate structure to operate through is also likely to change. Hazlewoods can assist with a review of your business structure to ensure that it fits your commercial needs whilst also being tax-efficient.
Available vehicles for structuring
The structuring options available include; sole trader, limited company or companies, group of companies, partnership and limited liability partnership.
Client story
Care home business with a cumbersome structure
Background: We were approached by the owner of a care business to look at his current trading structure and provide tax advice. He operated two stand alone companies and an LLP, which held property from which the companies trade. Rent was then charged by the LLP to the companies for the property. The structure was incredibly tax-inefficient for Inheritance Tax, Income Tax and Capital Gains Tax purposes.
How we helped: Our review resulted in restructuring which, based on the current values, has saved over £800k in Inheritance Tax exposure, over £460k in Capital Gains Tax and over £160k per annum in Income Tax.
