Succession planning and employee ownership for SMEs

Overview

A mixture of the COVID pandemic, Brexit and the cost of living crisis have sadly meant that more business owners are starting to look at exiting their businesses and the options available to them. Even owners of businesses which are thriving in the current market need to consider what their end goals are, as it’s often not an overnight strategy which can be implemented. On top of this, the recruitment market has become even more competitive, and a lot of industries are facing a talent shortage, meaning employee retention is more important than ever and more SME’s are looking at providing some form of company ownership to employees to keep hold of them long term. 

During this session, Makayla will run through the most popular ways of combining succession planning with employee ownership for SME’s, including Share Schemes, Growth Shares, and EOTs, and talk about the advantages and disadvantages of each.  Makayla will touch on each of the following topics:

• An overview of each option.
• What does each option mean for the business and the owner?
• What are the tax implications of each option?
• How do I know which option is best?

Makayla Combes ACCA, Head of Tax and Business Consultancy at Ad Valorem

Makayla heads up the Tax and Business Consultancy team at Ad Valorem, providing expert advice in a number of areas, including property tax reliefs, mergers and acquisitions, HMRC enquiries, employee incentivisation, and business growth and obtaining investment.

Outside of this role, Makayla also sits on the New Tax Professionals committee at CIOT and ATT.