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Succession planning...TAX! Life cycle of a business series
Megan and Alanah chat to tax specialist, Emma Walker, about succession planning and the personal tax implications involved in selling your business. They touch on topics such as the timing of exiting a business, the sale of shares, and the tax rates and conditions for business asset disposal relief. They also mention the upcoming Budget and potential changes to capital gains tax. Emma also provides insights into your personal tax considerations when succession planning. She looks at the tax implications of selling or gifting shares in a business, lifetime allowance, stamp duty on shares, inheritance tax, and business relief. Timestamps: 00:51 -  Autumn Budget 2024 expectations 01:58 - Selling your business Budget expectations 03:00 - Sale of shares - CGT 06:20 - Rates on share disposal 08:00 - Business Assets Disposal Relief formally Entrepreneur Relief 11:20 - Lifetime allowance 12:36 - Gifting shares/Family business passing shares down 14:08 - Options other than gifting shares inc Gift Holder Over Relief 16:40 - Stamp duty 18:00 - IHT Inheritance Tax 21:20 - IHT - Business Relief 23:05 - Check your Will! 28:15 - Emma's top tips   GET IN TOUCH! If you have any questions on today’s episode, and would like us to get in touch, email us at marketing@larking-gowen.co.uk.   You can get in touch with our presenters directly through the Our People section of our website here. We’d also love it if you could rate us 5 STARS on Apple Podcasts or Spotify, this really helps people find us! You can find more episodes from this series on our website here. This presentation is designed for the information of viewers. Whilst every effort is made to ensure accuracy, information contained in this recording may not be comprehensive and should not be acted upon without seeking professional advice. © Larking Gowen LLP  
Larking Gowen Insights
https://www.larking-gowen.co.uk/LGI
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