Succession planning is an essential part of managing personal wealth and securing your family’s financial future. With careful planning, you can ensure your assets are passed on efficiently while minimising unnecessary tax liabilities and complying with tax obligations.
“At Parsons, we can support you with a detailed plan that will provide peace of mind everything is taken care of.”
Without a clear plan, transferring assets can lead to significant tax burdens. Inheritance tax (IHT), capital gains tax (CGT) and other personal taxes can reduce the value of your estate if it’s not considered correctly. Succession planning allows individuals to structure asset transfers in a tax-efficient way, so you can make sure your beneficiaries receive the maximum benefit.
We’ll provide robust tax solutions that show how your wealth will be distributed, reduce any risks and make sure it’s exactly what you want.
Our tax specialists will support you to choose the succession planning tool that’s best for you, your business and family including exploring family trusts and family investment companies.
Our dedicated tax experts provide ongoing support to help individuals, families and business owners make informed decisions, minimise tax liabilities and stay compliant with the UK regulations.
We’ll take the time to understand your circumstances and long-term goals and work with you to create a tailored succession planning strategy. With our guidance, you’ll have peace of mind that your assets are protected so you can confidently plan and secure your financial future for yourself, family and business.
PROVEN
RESULTS
“We have engaged Parsons as statutory auditor and are thrilled with their knowledge and professionalism. They have taken time to understand our business and us as individuals and have audited in a way which does not feel onerous and allows us to continue business as usual.”
Director at Royle Recruitment
“I’ve worked with Ian and his team at Parsons for several years. They were instrumental in helping me to negotiate the successful sale of my first business and they continue to give me reliable advice and accountancy for my current business, Prosura.”
CEO, Prosura Ltd
“York Medical Group have trusted Parsons as our finance and commercial partner for over six years. When the practice scaled up and merged several practices into one and became a Primary Care Network in its own right, we need fit-for-purpose financial systems. We outsourced our Financial Controller, Finance Administrator and strategic financial advice to Parsons…
CEO York Medical Group
“We outsourced our finance function because it gave us the flexibility and breadth of financial expertise we needed in the face of very rapid growth. The COVID pandemic saw our contractual income grow from a £2m to a £6.3m within a very short period of time. Our finance needs have changed along the journey and…
CEO at Nimbuscare Ltd
“There was a lot of documentation and complex processes involved with the disposal of the business. I needed the advice of someone who understood what was required to ensure everything was done correctly and with my best interests at heart. Parsons certainly fulfilled that need. We has a very smooth deal which was comparatively swift…
former owner at Ridings Reprographics
“Parsons have been with us since our first audit in 2023, supporting us as a privately owned SME in the flooring sector through an important milestone for the business. Their approachable, supportive manner made the process feel straightforward and reassuring, and we genuinely enjoy working with a team who are always on hand throughout the…
UK Trade Furnishings Limited
“The team at Parsons York is our first port of call when we need expertise to support key strategic decisions. We know we can rely on Rebecca and Mark to answer a call and provide immediate and sound advice when we need it. Parsons provide high-level strategic insight that complements our in-house finance team and…
Managing Director at PolyGlobal Ltd
“The team at Parsons understand my business very well, they truly care about the job they do and the clients they look after. Parsons looks after my tax affairs – previously for the business and my personal tax affairs now that I’ve retired. Having that long-term relationship has been beneficial because there is an existing…
Former Managing Director at Incom Systems Communication Specialists Ltd
“Parsons have been managing my annual Self Assessment tax return for several years and they are so easy to deal with, I’ve even recommended them to other people. I like working with a local business and it’s important to me that my accountant is established and professional. There’s always someone there to answer any queries…
Business Owner at Stokes Creations
“The service from Parsons is very professional and efficient. I can always get hold of an accountant when I need them, they have reliable expertise and a very good understanding of my accounts. I know I can trust them to advise me on everything I need to know and any actions I need to take.…
Local Farmer based in West Yorkshire
Answers to the common questions we hear from clients.
Our specialist succession planning team is available for a no-obligation conversation to clarify your specific situation.
Succession planning is the process of organising your estate, assets, business interests and wealth will be passed on to your beneficiaries.
Yes, it’s important to have a will in place as it ensures your estate is distributed according to your wishes.
UK succession planning involves complex and evolving tax rules and regulations. A dedicated tax team can provide tailored advice, ensure you remain compliant with HMRC and help create a successful succession planning strategy.
At Parsons, Chartered Accountants we believe that every client – an individual, start-up or an established business – should have peace of mind when it comes to their finances.
As a leading independent accountant in Yorkshire, we look after the accounting, assurance, tax planning and business advisory needs of our clients throughout the UK. As part of our service, we offer corporate finance, financial planning, payroll and bookkeeping, and outsourced financial support.
