Kirkpatrick & Hopes - Succession Planning Accountants

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How do I keep control of the business once I have decided to step away from day-to-day involvement?

This is one of the trickiest areas we deal with. To get the maximum tax benefits using Entrepreneur’s Relief, you often have to give up control. But it is often possible to build into your succession plans a mechanism to allow you to step back in if things go wrong. The other key point is making clear plans and targets for your successors to follow and to incentivise them to act in a way that protects your interests and your stake in the business.