From incorporating a family business’ company, through the successful sale of that business and now to the establishment of a Family Investment Company, Charlotte Thornton-Smith and the corporate team have been key advisers at every stage for a family vet practice.
Charlotte explained: “The owners asked us to incorporate their company some years ago, and then came back to us when they wanted to sell their vets’ practice to a large corporate; they knew we had particular experience in that area, and they were very happy with the outcome.
“After that sale, they came back to us again, even though a Scottish firm had been recommended to them, to set up their Family Investment Company (FIC) to invest in property – it is an excellent way of protecting the proceeds of this sale, in this case, for them and their children.
An FIC holds assets in trust for future generations, and is often a very useful vehicle for managing assets over a long period; FICs can be used to minimise tax liabilities and enable better long-term planning.
Charlotte added: “We are always pleased when clients come back to us in this way; we are glad to be able to support them at different stages of their family business journey.”