Michael Parkinson

Family businesses come unique challenges that can affect business decisions, business success, leadership, personal life, wealth and succession planning. The more interconnected a family business is, the greater the potential for significant challenges and family conflicts. In this blog, I will look at the common challenges that can face many family businesses today.

The earlier you plan for your exit the better, and the more money you could exit with. Why?To minimise your tax bill on exit and maximise the use of tax reliefs, some of the conditions you need to meet will have to be in place years ahead of your actual exit. Our new guide on…

Like many job roles and departments, the finance function is likely to undergo major transformation in the coming years due to automation and the use of artificial intelligence (AI) technologies. CFOs and FDs need to understand and keep up to date with developments in automation, data analytics and other AI technology in order to ensure…

By Alexander Bari Personal tax planning before the end of the tax year is important to ensure you make the most of tax reliefs and allowances. Despite there not being many changes to tax rates and reliefs in the Autumn Statement 2023, there are still opportunities to save tax by wisely using tax reliefs and…

Although the lifetime allowance was effectively abolished from April 2023 as the lifetime allowance charge was removed, it has been retained on statute for a year to allow time for the intricacies to be ironed out. Draft legislation, to take effect from 6 April 2024, has now been published.

There are many things to consider around the timing of your business sale, including current economic climate, the stage of your business life cycle, the health of your business, tax planning and management team strength to name but a few.

Traditionally a CFO’s role was focused on managing and reporting a company’s financial position, statutory compliance, cash flow management, keeping finance records and managing the finance team. Today, these are still important areas of a CFO role, but increasingly the role has become far wider reaching and more strategic.

With HMRC under pressure to collect more tax owed, it is moving away from the tolerance shown during the pandemic and back towards a normal level of debt enforcement activity. As a result, the number of company winding-up petitions being instigated by HMRC is rising rapidly.

The energy price guarantee of £2,500 was extended in the March Budget for a further three months, which is welcome news for employees and any small business owners who work out of residential accommodation.

April 2023 has seen several corporate tax rates and tax thresholds changing. The 2023 tax rates changes could mean a higher burden for many businesses, but some may produce tax planning opportunities.

As a business owner, there will come a point when you’ll want to step back from your day to day business and eventually exit. Understanding the types of exit strategies available and the most suitable one for you is a crucial part of exit and succession planning. A business exit strategy is a strategic plan…