Family businesses are exceptional and need specialised guidance to safeguard their history and support planning and putting into place successful succession plans over the long term.
Every family business is different, and on the road to creating and safeguarding their legacy, they may encounter complex and one-of-a-kind challenges. PHG has a wealth of knowledge and experience to support you, whether you're looking to expand or need specialised advice on putting into place successful long-term succession plans.
Passionate
We are committed to assisting family-run businesses with their planning needs by being attentive and adaptable.
Dedicated Specialists
We hope to bring clarity and support to the lifetime of your vision with the help of our team of committed specialists.
Performance
We have a stake in your success and will continue to support the professional and private goals set forth by your family business.
Business Features
We provide the following services for your family owned business:
Profit Extraction
We assist you in the process of profit extraction for your business.
Planning
We are here to help you with personal and business planning.
Auditing
PHG is available for auditing your family business.
FAQs
- What are the main hurdles in a family-owned business?
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Difficulties faced by Family-Owned Businesses -Establishing compensation and perks. -The corporate culture. -Keep business and pleasure separate. -Generational issues -Planning for succession.
- Can you give a business to a family member in the United Kingdom?
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As long as the property or assets qualify, someone can give away business property or assets while they are still living and the estate can still claim Business Relief on Inheritance Tax.
- What kinds of difficulties should a shareholder agreement for a family business address?
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The following topics should be addressed in a shareholder agreement: -How directors are recruited and decisions are made by the board -Dispute resolution procedures; how the firm will be supported and earnings divided; -Share transfer rules, including what occurs when a shareholder dies; -Rules governing family members' employment -Restrictions preventing shareholders from competing with the company -Rules to safeguard sensitive information; agreements to safeguard external -shareholders
