Succession is rarely urgent — until suddenly it is.
Whether you’re passing a business to children, stepping back from a family enterprise, or preparing for the next generation to take over, tax is only one piece of the puzzle — but it’s an important one.
The three big taxes in succession planning are CGT, CAT, and Stamp Duty. Each has its own reliefs and conditions, and the way they interact can be complex. Agricultural Relief, Business Relief, Retirement Relief, and the dwelling house exemption all have roles to play — but only if you plan for them.
Early planning creates options. It gives you time to restructure if needed, to use annual exemptions, to transfer assets gradually, and to ensure the right reliefs are in place. Late planning limits those options — sometimes severely.
The families I work with tend to find that having the tax conversation early removes a lot of stress down the line. It doesn’t need to be complicated or formal — it just needs to happen before decisions have already been made.
If succession is on the horizon, even vaguely, a conversation now can prevent difficult decisions later.
Thinking about the next generation? Let’s start the conversation.
