Succession Planning

Whether you’re thinking about retirement, selling your business or passing it on to the next generation, you’ll need a thorough exit strategy that accounts for the multitude of financial, tax and legal issues that are part of every succession process.

Unfortunately, far too many business owners do not comprehend the enormity of this task and fail to begin the succession planning process early enough in their business life cycle. This often means they’ll take a significant tax, equity or even legal hit as they struggle to implement a rushed or poorly thought out succession strategy.

At Allied Business Accountants, we recommend a five-year succession plan as a minimum and will assist you to achieve your financial goals, maximise your retirement wealth and minimise your tax burden.

Business Valuation

The value of your business will play a central role in your succession plan as you negotiate with potential buyers, set financial goals, or resolve partnership buy outs.

Business valuations must be built on accurate information and evidence-based forecasts. Any mistakes made here could have significant tax or legal implications that could seriously erode your dividend.

That’s why you need to trust your business valuation to the experts at Allied Business Accountants who know your business inside and out. Along with our experienced accountants, we’ll mobilise our network of top lawyers and financial advisors to deliver an end figure that you – and your buyer – can trust.


Due Diligence

Due Diligence is another key factor in the succession planning process and is essentially a top-down review of an operation’s business practices and profitability usually conducted by a potential buyer, investor or major shareholder.

Allied Business Accountants conduct extensive due diligence investigations that examine the financial health and growth potential of a potential acquisition and ensure that you won’t be inheriting any surprise liabilities.

Our due diligence investigations examine:

  • Business assets
  • Equity levels
  • Risk management
  • Cash flow
  • Personnel and staffing practices
  • Existing liabilities

Estate Planning

A thorough estate plan includes tax effective wills, superannuation, trusts and investments that are structured to both protect the interests of your beneficiaries and minimise your tax burden.

Allied Business Accountants employs experienced accountants to handle tax compliance and minimisation issues alongside top lawyers to ensure your peace of mind.

We also structure testamentary trusts to distribute your estate to your beneficiaries in a tax effective method that reduces challenges to your will, and can provide advice on other estate planning factors such as granting power of attorney in conjunction with our legal consultants.