Guide

Transferring a business to a family member

Introduction

Running a family business successfully means reaching the right balance between the needs of the business and those of your family. This can be particularly difficult when you're planning how the business will carry on after you step down from managing it.

This guide will help you decide if family succession is right for your business and, if so, establish who is best placed to take over from you.

It outlines how to manage the succession process and its tax implications and explains why you should be clear about your future role in the business.