Do you run an OMB? Have you thought about how or when you might want to reduce your involvement in the business?
One possibility, if a sale to an external acquirer is not on the cards, could be the sale of the company to an employee ownership trust.
Despite having been introduced five years ago and despite having considerable tax advantages, the use of EOTs is not yet widespread.
If you are thinking about succession planning, ask your tax or legal adviser about an EOT, you might be pleasantly surprised!
It was the Finance Act 2014 which introduced certain tax reliefs relating to companies owned by an employee ownership trust (EOT), and to individuals who sell their controlling interest to an EOT. An EOT is a collective vehicle which buys a controlling interest in a company and holds it on behalf of all employees.