Succession Planning: Not Just for Big Companies

Why Succession Planning Matters Now

Many business owners delay succession planning because it feels too early or too complex. But waiting until you must make a decision can limit your options and increase the risk of disruption.

·        A well-thought-out succession strategy can help you:

·        Maintain continuity in case of unexpected events

·        Prepare internal successors or new leadership

·        Increase your business’s value in a future sale

·        Reduce tax liabilities through proper planning

·        Exit on your own terms financially and emotionally

What Should Be in Your Succession Toolkit?

Succession planning isn’t one-size-fits-all. Depending on your goals, it could involve:

·        Handing the business to a family member or long-time employee

·        Selling to a third party or via a management buyout

·        Phasing into semi-retirement with trusted leadership in place

·        Closing the business and extracting value efficiently

For business owners looking to close a solvent company, one powerful option is a Members’ Voluntary Liquidation (MVL).

What Is an MVL – and When Is It Useful?

A Members’ Voluntary Liquidation is a formal process used to close a solvent company and distribute its assets to shareholders in a tax-efficient way.

It’s especially useful if:

·        You’re retiring and no longer need the company

·        You’re selling the business assets and winding up the limited company

·        You have significant retained profits you want to extract efficiently

An MVL isn’t just for big companies with big exits – it can be a smart, cost-effective strategy for everyday business owners who’ve built up value over time.

Looking Ahead

If you’d like a confidential conversation about your next steps, we’re here to help!

 

You can contact our friendly and experienced team on 01603 552028 or email us at mail@leading.uk.com.