Client Story

Key legal advice for family business journey

12th October 2020

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.

“Some property was involved and we were very glad to be able to draw on expertise of the real estate team in our Birmingham office.

“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.”


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