Business succession planning

Get expert advice and support in succession planning for your business

As a business owner, it's easy to become consumed in day to day operations but it's important not to neglect your personal estate and succession planning. Our business succession planning experts can guide you through the process.

We can offer astute advice to help you make practical plans to secure the future of your business.

Once you've developed the business, a new dilemma emerges: who will run it after you, and what would happen if you or your business partner were suddenly unable to work or passed away?

You'll need to make sure that not only do you have a business continuity plan, but that any constitutional documents such as partnership or shareholders’ agreements provide for the various eventualities.

You need also to make sure that your Will and Lasting Powers of Attorney cater for the needs of the business and that you are maximising the benefits of tax reliefs.

With so many aspects to address, it's wise to start planning early. An effective plan is essential if you and your family are to get the most value from your business without unnecessary complications.

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Accredited by Chambers and Partners, Spear's 500 and the Legal 500

Accolades

Weightmans has a well-established and cohesive team, with broad and deep skills. The team members know their areas of expertise but also can tap into a global network of attorneys where necessary.
Chambers and Partners, 2026
The staff are very personable and easy to interact with, and generally good at interacting with our clients.
Chambers and Partners, 2026
Weightmans gives detailed and careful advice in addition to being responsive and quick to address the issues. The team has excellent knowledge and technical skill to deal with complex matters.
Chambers and Partners, 2026
My involvement with Weightman's has identified legal professionals who are responsive, highly skilled, approachable and pragmatic. I had great confidence in their guidance, organisation and judgement which was delivered clearly.
Legal 500 2026
Weightmans have a detail-oriented approach. They maintain meticulous records, ensure accuracy in legal documents and catch potential errors or inconsistencies before they arise.
Chambers and Partners, 2026
The team clearly work very well together and put clients' needs as a priority.
Chambers and Partners, 2026
Weightmans have an excellent communication style which builds trust and confidence among delegates.
Chambers and Partners, 2026
The advice from Weightmans is accurate, practical, delivered on time and in an exceptionally professional manner.
Chambers and Partners, 2026
I have been instructed by Weightmans as counsel. I have been impressed by the quality of the instructions which have identified the salient issues. The firm is responsive and easy to work with from the point of view of counsel.
Legal 500, 2026
This practice stands out for its exceptional expertise, innovative approach, and client-centered service. The team is known for being trustworthy, reliable, and highly knowledgeable, always prioritising clients’ best interests. Clients are kept well-informed every step of the way, empowering them with the insight and support needed to make confident, informed decisions.
Legal 500, 2026
Weightmans has exceptionally experienced and knowledgeable individuals.
Chambers 2025
I have been extremely impressed by their ability to receive a case at short notice and provide very effective legal representation throughout.
Chambers 2025

What are the tax implications concerning business succession?

Selling or transferring your share in a business will be a disposal for Capital Gains Tax. Depending on what you own and your involvement in the business there are reliefs that can be claimed to mitigate this or on transfer you may be able to defer the tax payable. Selling a business will mean that you may be converting an interest that qualified for relief from inheritance tax into cash which does not. You may therefore want to consider cashflow forecasting and tax planning options before you with the sale process and work out how much of the ultimate proceeds you will need personally. Post sale you may want to think about setting up trusts or a family investment company.

How our business succession planning experts can help you

We can help you plan ahead by providing thorough, commercially sound advice, whether you're considering a third-party sale, a management/employee buy-out or family succession. We can look at this from the perspective of the business (to help you maximise its value and ensure that it is in the best position to pass on) but also in terms of your personal longer term estate planning.

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