A professor at UCL, Sir Michael Marmot, who previously chaired a government-commissioned review into health inequalities, has published findings saying he is “deeply concerned” that, after continuous advancement over the past 100 years, improvements in life expectancy in the UK have all but “ground to a halt”.
Off the back of the findings, an article written by Emma Haslett in today’s City AM discusses life expectancy, saying we should focus on improving life in later years, rather than increasing lifespan.
“The challenge for researchers now is not so much prolonging life,” the author says, “as finding ways to improve the quality of our lives as we grow older, thus ensuring the generations after us are not left with burdens they cannot shoulder. In other words, the challenge is not creating immortality: it is finding a way to ensure the economy is set up so the population can both live long and prosper.”
Whilst we can’t improve your life expectancy, we can help you plan for the future and enjoy a smoother ride.
For business owners, it is never too early to start succession planning. Exit planning should be part of your long-term thinking. And that planning should start now!
Our dedicated SME Support Team at Beavis Morgan works with individuals not only to set up their businesses, but to guide and mentor them through the various challenges of each business lifestage, always seeking opportunities to reduce their tax bill, and enhance wealth accumulation and succession planning, in order to maximise your personal wealth and reap the rewards from all your hard work.
We understand the issues that surround succession which can take many forms, such as passing the business on to family members, a sale to staff, buy out of a retiring shareholder, or trade sale or Stock Exchange listing, to name just a few. Our specialists are available to:
- Prepare the business for sale or flotation
- Value the business and its intellectual property
- Provide sales negotiation and completion
- Raise funds for buy-outs or buy-ins
- Act as reporting accountants on IPO’s
- Minimise exposure to capital taxes, by ensuring the availability of Entrepreneurs’ Relief
Whether you are selling a business or looking to buy, we are also able to provide specialist expertise in sourcing finance for SME businesses, enhancing cash flow liquidity and enabling successful transactions.
Through careful planning, IHT can be mitigated. But, as with succession planning, we do recommend that planning starts are early as possible. Our Beavis Morgan tax experts are available to guide you and advise you on the available strategies.