Protect the company you’ve built. A Business Will safeguards proper succession of your shares and business assets, secures Business Property Relief, and can dramatically reduce the Inheritance Tax bill your family will face.
For most business owners, the company is one of the most valuable assets they’ll ever own. A standard personal Will rarely deals with it properly, leaving shares, partnership interests and key assets exposed at exactly the wrong moment.
A Business Will is written specifically to handle company succession. It controls who inherits your shares, makes sure your family can claim Business Property Relief, and stops your business being forced into a fire sale to pay an unexpected tax bill.
We’re specialists in this area, helping company directors, partners and family business owners across Northamptonshire put the right plan in place.
Potential Inheritance Tax exemption on qualifying business assets
Business Property Relief can exempt up to 100% of the value of qualifying business assets from Inheritance Tax. Without the right Will in place, your family could lose that relief entirely.
When a business owner dies without a properly drafted Business Will, the company’s future can be thrown into chaos. Shares may pass to people with no involvement in the business, decisions stall, and the value you’ve spent years building can be lost in months.
Worse, your family may lose Business Property Relief altogether, leaving them with a tax bill of up to 40% on assets they may never see the cash from.
A Business Will closes off all of those risks before they happen.
Without a Business Will, your shares may pass under intestacy rules to people who have no role in the business.
Get the wording wrong and your family may lose the up-to-100% IHT exemption that BPR can provide.
Without BPR, your business assets are taxed at the standard 40% Inheritance Tax rate, payable within 6 months.
To raise the tax owed, your family may have no option but to sell the business quickly and at a loss.
A properly drafted Business Will protects everything you’ve worked to build, in four key ways.
Controls exactly who inherits your shares, partnership interests and business assets, in line with your wishes.
Safeguards your family’s right to claim BPR so they don’t lose the relief on a technicality.
Qualifying business assets can be exempt from Inheritance Tax altogether, keeping the value in your family.
A Business Will can cut the Inheritance Tax your family pays on your estate by tens or hundreds of thousands.
Business Wills sit at the crossroads of company law, tax law and estate planning. We work with directors, partners and family business owners to make sure every part is drafted properly, and that everything joins up with your shareholder agreements and corporate structure.
Whether you run a limited company, a partnership or a family business that’s been handed down for generations, we’ll tailor the Will and any supporting Trusts to your exact circumstances.
There’s no jargon, no pressure and no fixed template, just genuine, specialist advice from a team that does this every week.
Speak to a Business Wills specialist today. We’ll review your situation and show you exactly how to safeguard your company, your shares and your family’s inheritance.