Have you considered employing family members in your business? As long as you can justify their involvement, you can employ them in your business.

In a limited company, they can be remunerated with a salary, receive benefits, and be included in your company pension scheme.

If you are in a partnership, taking your non-minor children into the partnership and gradually reducing your own involvement can be a very tax-efficient way of passing on the family business.

Please get in touch on 0161 761 5231 to discover the most tax-efficient way to involve your family in your business. Alternatively, please email us at theteam@horsfield-smith.co.uk.