Without proper planning it's all too easy to go down this path!
How does this work?
CGT on the sale of a business is 10% for most entrepreneurs
IHT on the sale proceeds of a business is 40% for most individuals
So if you suffer an untimely death following the sale of a business, 50% of its value could be wiped out overnight in tax! Indeed a recent court case was an example of this happening, although it could have been avoided. Examples of how to do so were given during a seminar for our clients held recently in Northampton.
For further information and advice, contact Catherine Ball at catherineball@hewitsons.com
To be added to our invitation list for future seminars, please email michaelyoung@hewitsons.com or see our events calendar
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Eighteen high-flying lawyers at local law firm Hewitsons have been promoted, in recognition of their success.
It is with great sadness that our former Partner, John White, passed away last week. John was a lovely man who was devoted to his wife Jane, his daughters and his grandchildren.
In Rogers v Leeds Laser Cutting, an employment tribunal found that the dismissal of an employee who told his manager that he would not return to work until after lockdown because he feared he would infect his children with COVID-19, was not automatically unfair.
