Simon Littlejohns, Partner and Head of Tax at Birmingham chartered accountants and business advisers Friend Partnership, begins his series on Owner Managed Businesses (OMB).

Now that the dust has settled on the Summer Budget, and what passed for a summer is behind us, I am starting a series of fortnightly blogs concentrating on tax issues with a particular target audience in mind. 

I am going to start with a series of topics which are relevant for owner managed businesses and their owners.

I will follow this with a series of blogs looking at tax planning for high net worth individuals after which I will have a series on relevant one-off specialised tax topics.

I will intersperse the planned blogs with blogs on topical issues resulting from changes in: prevailing tax legislation, HMRC practice, decided tax cases and anything else with a newsworthy tax angle.

My first series of blogs will cover the following topics for OMBs:

  • Structuring the business
  • Taxing the business structures
  • Company – tax planning
  • Company – management and staff incentives
  • Company – ownership structure
  • Company – profit extraction
  • Company – onward sale
  • Company – will and estate planning

It is intended that each of the blogs will give the headline issues.

Please suggest any topics that you would like to see covered in future blogs if I am not directly addressing an issue which you believe warrants further attention.

As with all such blog items I can only cover the main issues so please ensure that you secure proper professional input before any action is taken on the back of what you may read.

In any such case please do not hesitate to contact me.

I hope you find the blogs useful.