Why Succession Planning Matters Now
Many business owners delay succession planning because it feels too early or too complex. But waiting until you must make a decision can limit your options and increase the risk of disruption.
· A well-thought-out succession strategy can help you:
· Maintain continuity in case of unexpected events
· Prepare internal successors or new leadership
· Increase your business’s value in a future sale
· Reduce tax liabilities through proper planning
· Exit on your own terms financially and emotionally
What Should Be in Your Succession Toolkit?
Succession planning isn’t one-size-fits-all. Depending on your goals, it could involve:
· Handing the business to a family member or long-time employee
· Selling to a third party or via a management buyout
· Phasing into semi-retirement with trusted leadership in place
· Closing the business and extracting value efficiently
For business owners looking to close a solvent company, one powerful option is a Members’ Voluntary Liquidation (MVL).
What Is an MVL – and When Is It Useful?
A Members’ Voluntary Liquidation is a formal process used to close a solvent company and distribute its assets to shareholders in a tax-efficient way.
It’s especially useful if:
· You’re retiring and no longer need the company
· You’re selling the business assets and winding up the limited company
· You have significant retained profits you want to extract efficiently
An MVL isn’t just for big companies with big exits – it can be a smart, cost-effective strategy for everyday business owners who’ve built up value over time.
Looking Ahead
If you’d like a confidential conversation about your next steps, we’re here to help!
You can contact our friendly and experienced team on 01603 552028 or email us at [email protected].
