We live in "interesting' times. In light of the unprecedented turmoil in investment markets and the negative knock on effects being experienced in the wider economy, now more than ever, professional advisers need to provide proactive advice! The need to have adequate business succession planning and agreements in place is an important area where professional advisers can assist their clients.
This event covered the main issues business clients need to address in relation to business succession, or "buy-sell"? agreements. The current commercial environment will place additional pressure on business partnerships and between working shareholders. A lack of business succession planning creates additional stress making voluntary exits from partnerships or shareholdings even more difficult.
Examples highlighted the key planning, taxation and funding issues for "buy- sell"? agreements.