Family businesses—employment and succession

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Precedents
This partial deed of revocation is made on [date] by [donor] of [address].1I granted a Lasting Power of Attorney for [Financial Decisions/Health and...
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19th May
Precedents
This Deed OF REVOCATION is made on [date] by me [name of donor] of [address of donor].This Deed provides:1Revocation...
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19th May
Practice notes
Trustees—statutory powers of trusteesSource and availabilitySourcesTrustees have certain powers conferred on them by statute, in particular by the...
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19th May
Q&As
At what stage and to whom can a Deed of Appropriation take place when selling a second property in an estate?We assume you refer to the situation when...
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19th May
Practice notes
Creation of trusts—blind trustsWhat is a blind trust?A blind trust is a trust that is aimed at preventing conflicts of interest arising. Usually, the...
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Produced in partnership with Michael O’Sullivan of 5 Stone Buildings 19th May
Practice notes
The Cy-près doctrineFORTHCOMING CHANGE: On 22 March 2021, the government published its response  to the Law Commission’s report of 14 September 2017,...
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19th May
Practice notes
Relief for income tax lossesReliefs entitle taxpayers to reduce the amount of income tax payable. When calculating liability to income tax, a taxpayer...
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19th May
Practice notes
Assessment for residential accommodationCoronavirus (COVID-19): The content of this Practice Note is temporarily affected by the coronavirus...
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19th May
Q&As
Can a life tenant in a Will bring a life interest to an end by choosing to end it themselves or does it only expire on death?Life tenantsA life...
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Produced in partnership with Lynne Counsell of 9 Stone Buildings 19th May
Practice notes
Capacity to litigateOn the face of it, there would appear to be no specific impediment, if there is no reason to suppose that a person is without...
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19th May
Practice notes
Termination of trusts—methods of terminationDuration of a trustThe duration of an express trust is subject to the restrictions imposed by the rules...
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19th May
Practice notes
Costs and expenses in the Court of ProtectionThere are court fees and disbursements which will be payable by all applicants on making a new...
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19th May
Practice notes
Acceptance in Lieu scheme and other heritage property reliefsSTOP PRESS: HMRC has updated its guidance on calculating the special price in Acceptance...
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19th May
Practice notes
Trustees—self-dealing, unauthorised profits and conflicts of interestThe self-dealing ruleThe self-dealing rule is connected to, but distinct from,...
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19th May
Practice notes
Offshore trusts—offshore income gains (OIGs)Offshore income gains (OIGs) are gains realised on the disposal of interests in offshore funds which are...
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19th May
Practice notes
Trust disputes—court jurisdiction and procedureTrust litigation has been classified as being of three types:•a dispute as to the trusts on which...
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19th May

Most recent Family businesses—employment and succession content

Q&As
Are there any disguised remuneration consequences of leaving shares to an employee under a Will?This Q&A considers whether the provisions set out in...
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Produced in partnership with Christopher Snell of New Square Chambers 6th Sep
Q&As
What issues (tax and non-tax) need to be considered if a majority shareholder wishes to leave their shareholding on a qualifying interest in...
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16th Aug
Q&As
What steps are required in order to transfer a deceased’s share in a limited liability partnership to their heirs?Termination of membershipA person...
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15th Aug
Q&As
What are the rights of a beneficiary under a discretionary trust in respect of shares held by the trustees?Under a discretionary trust, trustees are...
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1st Aug
Practice notes
Passing on the family businessSuccession in a family business is a multi-dimensional process, rather than a single event. The challenge is always how...
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Produced in partnership with Ken McCracken 31st Jul
Practice notes
Employing family members in a family businessWhat some consider to be normal business rules do not always apply in a family business context, eg many...
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Produced in partnership with Ken McCracken 31st Jul
Practice notes
Selling the family businessWhether or not to sell their business and when to sell are among the most important decisions that a family may have to...
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Produced in partnership with Ken McCracken 31st Jul
Practice notes
Employing non-family members in a family businessFamily business cultureWith the typical average cost of replacing an employee exceeding £30,000,...
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Produced in partnership with Douglas Streatfeild-James and Caroline Hardwood of Burges Salmon and Nicholas Smith of the Family Business Consultancy 31st Jul

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