Rural Succession Planning
We’ve helped many rural businesses and estates as they’ve passed through multiple generations and have first-hand knowledge of the emotional and practical difficulties you may encounter. We understand the complexities involved in developing the most suitable succession plan for your business. We’ll consider your current needs and the business’ future goals, helping you find a plan that fits everyone involved.
Our dedicated team can help you with fundamental decisions about operating as a sole trader, partnership, limited liability partnership or as a limited company. We have extensive experience in advising trusts and charities how best to restructure.
The type of business structure that you select may affect its income, capital and inheritance tax liabilities and will have a key bearing on succession planning. We always advise seeking expert advice at the time of setting up your business, or at the beginning of a potential transaction or substantial structural change. These are the points where you will have the most options and where our expertise will benefit you to its fullest extent. Further, a new business structure may be required to facilitate diversification or joint venture projects.
Choosing the most suitable structure for your business can be among the most far reaching decisions you will ever have to make. We are here to provide guidance and peace of mind that you have settled on the best option. We work closely with colleagues in our Wealth and Trusts Team to secure the best outcome for you.
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If you would like to hear more about how we can help you with business succession planning or have specific questions, please contact us.
"Anderson Strathern is the “go to” firm, as far as I am concerned, for rural property issues. When I am asked for a recommendation it is always Anderson Strathern. The team is efficient; approachable and very knowledgeable in this complex area of law."