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Family Owned Businesses

The ownership and governance of family owned businesses can differ greatly from other types of business. We provide advice and support to business owners and entrepreneurial families at all stages of their journey, in the wider context family wealth, whether this derives from an active trading company or passive investments in property and/or businesses.

Such clients require in their advisers specialist understanding of family business dynamics, as well as issues arising from succession and other transitions and disputes, not to mention the applicable taxing regimes.

We pride ourselves on our expertise in this area, and are able to call on the support of colleagues in the Corporate, Immigration, Employment and Dispute Resolution Departments, to provide a full and seamless services to entrepreneurs and their businesses.

Our advice typically covers:

  • Set-up, tax and structuring options, companies, trusts and partnerships – including Family Investment Companies
  • Family governance, including preparing Shareholders’ and Partnership Agreements to reflect your particular circumstances and to future proof your business holding and investments
  • Business governance, building an effective board of directors and advising on succession and transition of executive functions
  • Acting as trustee, company director and/or company secretary
  • Providing oversight of the business, including liaising with investment advisors and overseeing and administering family wealth
  • The purchase or sale of a business (shares or business assets), raising capital or bringing in private equity investment
  • The tax implications of holding, buying, selling or winding up businesses, and the extraction of profits
  • For clients with an international dimension we coordinate legal, tax and accountancy advice from specialists in the relevant jurisdictions around the world alongside our advice on the UK aspects
  • Advice on pre- and post-transaction planning for all types of corporate transactions, including tax and succession planning optimisation for shareholders, and setting up trusts
  • Applications for clearance from HMRC in relation to mergers and demergers, distributions and dissolutions
  • In the context of a particular transaction, we may work with Corporate and Employment colleagues, and other specialists to conduct tax and accounting due diligence, provide the relevant advice on tax structuring, corporation tax, value added tax and stamp taxes, and negotiate any related warranties and indemnities
  • Working with colleagues from our Immigration Department, we are able to assist in establishing a business in the UK to support a visa application

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