1. If you can, aim for increasing your businesses “perceived value”. A year on year increase in profits always looks attractive. You may have to reconsider any short-term profit-reducing corporation tax plans you have in place to achieve this.
2. Bring your accounts up-to-date and make sure they accurately reflect how your business is performing. At some point due diligence may be required, so the sooner the better.
3. A business that relies on a few key customers and suppliers is valued less than one that has a broad and diverse range. Look to expand your customer/supplier base.
4. If you can, tie key customers/suppliers to long-term contracts. Your business will have evidence of an ongoing profitable future. This also applies to any key staff and managers you employ.
5. Consider reducing your effective rate of Capital Gains Tax by claiming Entrepreneur’s Relief. To qualify you may have to minimise the amount of property, shares and cash you hold. 
   

Sound management of business affairs in the lead up to any exit is always advisable.

If you’re thinking of stepping down from your business now or at some stage in the future, contact us today to get advice.

The levels and bases of taxation and reliefs from taxation can change at any time and are dependent on individual circumstances.

Please note that advice with regard to exit strategy planning may involve the referral to a service that is separate and distinct to those offered by St. James’s Place.