Just as your tastes and needs in clothing change as you grow up, from short trousers through jeans to business suits, the structure of your business which was so right when you started can need updating or replacing as you grow your business.
For example, it may be that you find yourself with two or three strands to the business which have little day-to-day relationship other than a common owner and administration systems. Eventually it may be very sensible to separate each business unit into it’s own limited-liability company (so a problem with one won’t hurt any of the others) and form a holding (group) company to own them all. This may even help with tax planning, allow off-shore flexibility and put you in a position to sell some or all of each business as relevant.
We are not tax advisors, we are not lawyers (although several of our off-spring are both!) but we have been through these processes often enough to know what to ask and who to ask it from.
As always, planning is key, and doing the leg-work before you need to is generally the most efficient way forward. Let’s chat through all of your options, we may even have some ideas you haven’t thought of..