Succession Planning & IHT Readiness

Sustainability means protecting what you’ve built

Sustainability isn’t just about reducing costs or environmental impact. For business owners, it’s also about protecting the value you’ve spent years creating.

What happens to your business if you retire, step away or die?

Without the right arrangements in place, your family, business partners and employees can be left dealing with decisions that should have been made by you.

BSUK can help you understand the areas that need consideration and connect you with specialist advisers who can put the appropriate legal, tax and estate-planning arrangements in place.

Succession Planning

Your business may be one of the most valuable assets you will ever create.

But what happens to it next depends on more than simply having a Will.

You may want your children to take the business forward. Your family may have no interest in running it. Your business partners may want to buy your share. Or you may intend to sell the business and use the proceeds to fund your retirement.

There is no single right answer. The important thing is to decide what you want to happen and plan for it.

A proper succession review can consider:

• Business ownership and share structures
• Shareholder agreements
• What happens to your shares if you die or step away
• Business premises and how they are owned
• Your intended exit or succession route
• Wills, trusts and estate planning
• Life assurance and business protection

The aim is to ensure that your business arrangements, personal wishes and family interests work together, rather than leaving important decisions to be made after the event.

IHT Readiness

The Inheritance Tax position for business owners changed on 6 April 2026.

Business and Agricultural Relief is now subject to a £2.5 million combined allowance for 100% relief, with qualifying value above that receiving 50% relief. For married couples and civil partners, the allowance can potentially be transferred, allowing up to £5 million of qualifying property to receive 100% relief.

For business owners with valuable companies, business premises, accumulated company cash or existing succession arrangements, planning based on the old rules may now need to be reviewed.

The important questions include:

• What is your business actually worth?
• How much of that value is likely to qualify for Business Relief?
• How are your business premises owned?
• Are there shareholder arrangements that need reviewing?
• How much cash or investment value sits within the business?
• What happens to the business if you die?
• What happens if you sell it before then?
• Is there a potential Inheritance Tax liability that needs to be planned for?

The earlier these questions are considered, the more options there may be.

Bringing the two together

Succession planning and IHT planning shouldn’t be treated as separate exercises.

The way your business is owned, how you intend to exit and what happens to your estate can all affect each other.

BSUK can help you identify the areas that need consideration and introduce you to specialists in business succession, Business Relief, shareholder arrangements and wider estate planning.

You’ve spent years building your business. Make sure you have a plan for what happens to it next.

Talk to BSUK about Succession Planning & IHT Readiness.