Author Description

This book provides guidance on every stage of the life-cycle of an owner-managed business, from its formation through to succession planning. The chapters successively discuss: 1) Starting in business; 2) Close companies; 3) Entrepreneurs' relief, and business property relief; 4) Property and the business; 5) Groups; 6) Profit extraction; 7) Financing the business; 8) Reliefs available to businesses; 9) Creativity and innovation; 10) Employee benefits and shares; 11) Company reconstructions and purchase of own shares; 12) Incorporation and disincorporation; 13) Selling the business; 14) Transactions in securities and clearances; 15) Succession planning and the family business; 16) Ceasing the business and winding up a company; 17) Penalties and HMRC powers; 18) Tax tribunals & HMRC internal reviews. This edition covers changes introduced in the Finance Act 2019.