Family businesses

An absolutely first-rate firm with excellent private client practitioners.

Chambers UK
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Understanding and meeting the specific requirements of the stakeholders of a family owned business - be they past, present or future – is at the heart of the Penningtons Manches Cooper family business team’s approach.

Family businesses are unique in that they are driven by the changing dynamics between the stakeholders, the problems faced in business continuity and the management challenges of meeting the differing needs of multiple generations. The businesses that survive and flourish do so with the best advice.

Our lawyers remain at the forefront of addressing these challenges and they have specific experience of working with family businesses throughout their business lifecycle – from planning the transition of the business through diversification to the introduction of the next generation to meet the current or future business needs.

The family business team includes partners with corporate experience and members of family business specialist groups who are at the forefront of the private wealth industry. This market-leading expertise gives our clients access to a comprehensive wealth management service and to the most up-to-date planning techniques.

We work with clients to develop and put in place permanent flexible solutions to the challenges they are facing that will secure the business and the success of the family at its heart for the current and future generations.

We offer expert advice on:

  • succession issues for key stakeholders
  • trading structures and tax mitigation
  • governance structures
  • dispute resolution within a family
  • preservation of the family business
  • exit strategies and taxation

Recent work highlights

BPR planning

Advising on the business property relief planning for a family company sold for £30 million and the post-sale transition from company directors to wealthy investors.

£19 million of tax savings

Implementing a family partnership as part of an estate planning strategy for the family. This will preserve entrepreneurs’ relief and save £19 million of tax (assuming that the commercial deal completes on its expected terms).

Business support for next generation

Supporting the next generation of a retailing magnate’s family to set up their own businesses.

Related expertise

Penningtons Manches Cooper LLP

Penningtons Manches Cooper LLP is a limited liability partnership registered in England and Wales with registered number OC311575 and is authorised and regulated by the Solicitors Regulation Authority under number 419867.

Penningtons Manches Cooper LLP