Business owners considering exit strategies

Nearly one in three UK business owners has brought forward exit strategies over the past 12 months according to new research from Evelyn Partners. Among the main reasons for this are personal finance challenges having resulted in a need to access the capital tied up in the business and fears of an increase in capital gains tax and potential cuts in inheritance tax reliefs. In addition business owners cited the increased costs of accessing capital as a result of rising interest rates.

Laura Hayward tax partner at Evelyn Partners said: ‘As the countdown to the Budget on 30 October ticks away we have been contacted by an increasing number of business owners worried about what the chancellor will do to CGT and IHT. The prime minister’s statement that the upcoming Budget would be “painful” has put owner-managed businesses on edge and this has prompted...