JS. Tax Advisory
When you first started out in business, it may have made perfect sense to operate as a sole trader/partnership, perhaps because you needed all the profits personally.
However, as a sole trader/partnership you will be taxed on all profits arising, regardless of whether you still need or extract all the cash.
Now could be a perfect time to consider restructuring your business into a corporate structure, such as a company. This will allow profits you do not need personally to roll up tax efficiently at lower Corporation Tax rates and may also offer other benefits, such as the potential to ‘gift’ shares to other family members for income and Inheritance Tax planning purposes.
There are many different reasons that a corporate reorganisation may be required, and there are many different forms a reorganisation can take, including, but not limited to, the following:
Not only will the JS.Tax Advisory team review your structure to consider if a restructuring is required, but we will also devise the full step plan and project manage this to completion, including securing HM Revenue & Customs clearance.