Providing Local Financial Business Support In Cheltenham
Published August 2016
Tony Mitchell, one of our directors, has been advising company owners looking to retire to still consider a solvent winding up of their company to take advantage of very beneficial capital tax rates.
Tony highlights that although in the Budget earlier this year the former Chancellor tried to limit who can legitimately take advantage of some very attractive tax rates, the opportunity still exists to pay tax at rates considerably less than taking money out of the company via salary or dividends.
As a resident of Cheltenham and a member of the Cheltenham FSB Committee, Tony has been working with local businesses to offer them guidance and support. He has not only helped business owners save tax but is also on hand to assist company directors who may not be in such a fortunate position and are struggling financially.
He says, ‘It is very important that any company owner who is considering selling their business and retiring must either speak to us or to their accountant about the opportunities available via a solvent winding up to save what could be tens of thousands of pounds in tax. Whatever the situation, though, early contact with an insolvency practitioner is vital in times of difficulty.’
Recognising the requirements of local businesses in the Gloucestershire area, we opened a Cheltenham office last year. Working alongside Tony is Alan Jones, a finance specialist at our sister company Cranfield Business Finance. This arm of the Cranfield Group sources whole of market funding solutions for clients, not only in difficult situations, but also to help successful companies fund expansion.
With their specialist knowledge and broad experience, Tony and Alan provide free no obligation meetings with business owners and directors in Cheltenham and the wider area to explore opportunities and offer advice and guidance.
To find out more about the opportunities available to you regarding solvent winding up, please email Tony or call 01242 869030.