60 WEALTH MANAGEMENT
104001 Pierce UDS Advert _A5_Layout 1 09/04/2021 10:38 Page 1 We provide solutions Providing core accountancy services with quality and
swiftness whilst focusing on the future of your business and finding solutions to your problems.
Some of our solutions: •Business Strategy
•Re-structuring your business
•Management / family buy outs
•Acquisitions
•Pre year end planning •Staff incentives
•Selling your business •Buying a business
•Raising finance •Forecasting
BUSINESS STRUCTURES: SUCCESSION AND MAXIMISING WEALTH by Dominic Ball
Tax director, Pierce
As business owners and entrepreneurs face rising tax costs on dividends and a period of economic uncertainty it is now more important than ever to ensure their business structure is fit for purpose.
Standalone companies offer little flexibility to build passive investments.
•Trust and estate planning •Tax investigations
Give us a call to discuss
how we can help your business 01254 688100
Email:
l.kennery@
pierce.co.uk www.pierce.co.uk
Profits are either taken as dividends resulting in significant income tax or invested by the company in property or other assets where these assets are exposed to the trading risk of the business – simply these assets could be used to settle company liabilities if it became insolvent.
•Research & Development •Business Valuations
However alternative structures can be established to protect assets, structure ownership between family and pass on wealth.
Establishing a holding company - the “Parent”, above a trading company is one alternative.
Principally this protects valuable assets in the Parent from the debts and liabilities of the trading company.
Tax savings can also be achieved as dividends paid to the Parent are not subject to corporation tax leaving more cash available for investment.
However, if the trading company is sold, the proceeds will go to the Parent not the entrepreneur.
Under an alternative hybrid structure, share capital in a trading company is split between the entrepreneur and the Parent.
Dividends can be paid to the holding company where cash can be invested, and ringfenced from the trading activities and if the trading company is sold the proceeds will go the entrepreneur which maintains valuable tax reliefs.
By making wider family members shareholders in the Parent the structure can also be used to help plan for succession and reduce inheritance tax.
If you are considering the restructure of your business, seeking the advice of a Pierce tax specialist can ensure the best outcome for you and your business.
STRUCTURED
CHARITABLE GIVING by Karen Morris
Development director, Community Foundation for Lancashire
Supporting your charitable giving, as part of financial planning.
We support individuals, businesses and professional advisors to make informed charitable investment decisions for themselves, or on behalf of their clients.
Options include:
• Setting-up a personal / business foundation • Establishing an ‘in memory fund’ • Transferring the burden of running a charitable fund • Leaving a legacy / gift in will
Our expert advice, sound management and due diligence support service makes charitable giving easy, tax-efficient and robust.
To discuss your requirements contact: Karen Morris Development Director
karen.morris@
cflm.org.uk 07973 409858
Since 2007, the Community Foundation for Lancashire has distributed £16m to charitable groups countywide, working with individual donors and organisations, including Comic Relief, Big Lottery Fund and United Utilities.
More than ever, we’re finding individuals and businesses looking to discuss charitable giving as part of their financial planning.
Whilst they want to give back to causes close to their heart, they don’t necessarily know how to do it.
Establishing a charitable trust may appear a conventional route, but charity law-mandated legal responsibilities are complex and challenging.
This is where the Community Foundation can help.
www.lancsfoundation.org.uk @lancsfoundation Registered Charity Number: 1068887
We have utilised our knowledge and expertise to successfully support many individuals, business owners, and professional advisors, to make informed charitable investment decisions.
Our expert advice, sound management and due diligence support service makes charitable giving easy, tax-efficient and robust.
Those using our service can have confidence that funds will be directed to where they will have most impact, making a real difference to those within our communities.
Moira O’Shaughnessy is managing partner of Financial Planning Corporation; her client, the Christal Foundation, supports Burnley communities.
She explains: “Setting up your own charity from scratch and promoting it is a huge commitment that many can’t make. However, the Community Foundation make it all so easy.
“It’s an off-the-shelf charitable foundation but bespoke to your own needs. We view the Community Foundation as a key partner as we help our clients make a difference locally.”
Visit:
www.fpc.co.uk to find out more about the Financial Planning Corporation.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80
