Specialist Inheritance Tax & Succession Planning Team

18 November 2019

The Private Client team at Anderson Anderson & Brown LLP is one of the largest in the North East of Scotland, with extensive experience in advising individuals and businesses on all aspects of their tax affairs. The team, headed up by Partner Derek Mitchell, provides a comprehensive tax service including specialist succession planning advice for individuals, business owners and their wider families.

Thanks to a potent mix of current political and economic uncertainty, a stagnant Inheritance Tax (“IHT”) tax-free allowance and general tax complexities, there is an ever-increasing demand for a better understanding of how family businesses and other assets can be preserved, protected and passed on to the next generation tax-efficiently. The succession planning team regularly assist with holistic tax planning including reviewing business structures, advising on lifetime gifting, the use of family Trust arrangements and Will structuring to achieve tax-efficient solutions for clients which also work commercially.

The team are also regularly involved in obtaining advance clearance from HM Revenue & Customs on the availability of tax reliefs ahead of proposed transactions, providing invaluable comfort for business owners seeking to transfer value and control to the next generation.

Director Jill Walker specialises in advising small business owners on the complexities of the UK taxation legislation, optimum business structuring and maximising available reliefs whilst Senior Manager Lisa Tait heads up the team’s Inheritance Tax (“IHT”) and Trust offering, regularly working alongside legal advisers to ensure overall cohesion in the succession planning process.

 

Specialisms include:

  • Business structuring reviews
  • Quantifying exposure to IHT and other relevant taxes
  • Advising on the optimum use of tax reliefs and claims
  • Providing guidance on IHT mitigation strategies, including family Trusts
  • Considering the interaction of IHT with other taxes
  • Reviewing Will terms and advising on tax-efficient updates

Succession Team02

AABs Specialist Inheritance Tax & Succession Planning Team - Left to right: Sophie Buchan, Jill Walker, Derek Mitchell, John Kean and Lisa Tait

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