Succession Planning

39% Trust tax rate

On 18 May 2023, the government introduced the Taxation (Annual Rates for 2023-24, Multinational Tax, and Remedial Matters) Bill. The Bill includes draft legislation that will see the trust tax rate increase from 33% to 39% from 1 April 2024, thereby aligning it with the top personal marginal tax rate.

How family-held businesses can thrive generation after generation

A well-designed family-held business succession plan can articulate the vision and values of the founders and help ensure a smooth transition to the next generation. From our experience, many leave succession planning too late. We share some of the key questions that a family should be asking if it wants its business to thrive from one generation to the next.