Juggling business and family commitments may leave you short of time to plan for the future but this could mean you are storing up an unnecessary tax bill.

Did you know a recent study estimates that over a billion pounds is paid in unnecessary inheritance tax each year. This tax could have been avoided with forward planning to make best use of exemptions and relief provided for in the tax legislation.

Valuable relief from inheritance tax may attach to your business assets. Our experts can advise on the likelihood of securing business property relief as well as steps you might take to optimise the position.

It is important for business owners to have appropriately drafted wills in place which deal effectively and tax efficiently with business interests. A simple will is unlikely to do the job. It is vital to review your will and the company paperwork to make sure the effective management and control of a business will not be disrupted in the event of the unexpected death of a business owner and that shares in the business are passed on to the right people.

Importantly, with appropriate will planning, the value of any business assets which qualify for relief from inheritance tax can be captured and ring fenced to provide for a spouse or partner without becoming part of his or her estate. This can secure significant inheritance tax savings for your intended beneficiaries.

Making or updating your will is also an ideal opportunity to review tax matters generally. This can help to increase the tax efficiency of your business and make sure you do not miss out on opportunities to reduce personal tax exposure. In particular, if you are considering selling or passing on shares in your business during your lifetime it is important to have the benefit of expert advice on relevant tax issues so that you can make informed choices.

Our team of experts will take time to understand your circumstances and concerns, working with you to make sure your planning is tailored to fit with your personal and business goals. We can work closely with other professionals such as financial advisers and tax accountants to provide a joined up approach to your personal planning at key stages during your life and the lifecycle of your business.

We will be delighted to arrange a no obligation meeting for you to discuss essential personal planning for you and for your business.

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Claire Johnson


Partner, Cardiff

+44 (0)29 2039 1728


Erica Thomson


Partner, Nottingham

+44 (0)115 983 3745