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Tax Rates 2021 - 2022

RHP Tax Rates

Download RHP's free PDF guide to the 2021/22 tax rates.

Family Business

Family owned businesses account for over 75% of all UK businesses and employ approximately 50% of the workforce in the private sector. Their growth and success is therefore critical to the UK economy yet surprisingly very little guidance is available on the unique and increasingly complex issues and problems which family businesses face.

The combination of commercial issues and family issues can create added pressures and burdens which if not handled correctly can prove to be terminal; only 30% of family businesses reach the second generation and just 13% survive to the third.

At RHP we understand the special issues which family businesses face. One of our partners Sue Pring has previously been closely involved with the former national Stoy Centre for Family Business. Acting as independent neutral advisors and more importantly with no family involvement or bias her experience can provide you with an outside view to help avoid the predictable problems ahead as well as to develop education on issues affecting family businesses.

Below are just a few of the issues we have helped family businesses to address in recent years:
  • Finding the balance between the requirements and opportunities for the business and the personal and family needs and wants.
  • Whether a family member should be appointed or promoted above a more able external candidate.
  • How to deal with 'inactive' family members and handling sibling rivalry.
  • Developing communication within the family and drafting a family constitution to clarify the demarcation between 'family' and 'business'.
  • Passing the business to the next generation - 'One day this will all be yours' – But how?

Contact us today on 01603 703010 or by email for further information on how we can help your family business. Alternatively why not arrange a free, no-obligation consultation with us to discuss your requirements?