Family businesses require expert accountants who provide specialist advice and accounting services. With the number of family-run businesses increasing every year in the UK, it’s important to ensure you’re running it to the best of your ability.
The family business accountants at TaxBite have in-depth knowledge of family businesses and can provide specialist advice to help you and your business grow in the family.No Obligation Quote
4.8 stars out of 475 reviews
Running a family business can present particularly unique challenges, such as succession planning issues and disagreements between shareholders that can be informal or unstructured in nature. Maintaining a balanced work-life within the family can also be difficult.
With this in mind, our family business accountants are available to assist all family members in tackling and overcoming these challenges while working to meet the needs and requirements of the family business itself.
Currently, in 2022, family businesses are in abundance, with around 75% of all businesses within the private sector being family-owned. Each business has a unique structure with unique challenges and requirements. Our business advisers and chartered accountants work hard to understand your business from the inside out, ensuring we offer suitable, fully-custom service to your family business. The typical services we offer are:
Get advice from experts!Get in touch
As part of our family business accounting services, corporate tax planning is vital to running a successful family business. We offer this service, ensuring your taxes are planned out appropriately and effectively.
Our chartered accountants are experts in managing family business accounts and tax returns, ensuring your business remains fully compliant.
Allow the team at TaxBite to assist you in setting up and managing your family businesses’ Payroll and auto-enrolment.
With expertise in digital accountancy, our chartered accountants are fully up to date with the latest cloud bookkeeping training and practices. We offer cloud bookkeeping if you’re interested in getting ahead of the incoming Making Tax Digital (MTD) legislation or simply want to make your accounts neater.Speak To A Chartered Accountant
Our chartered accountants are experts in all things VAT and can assist you with any queries you have relating to VAT as a family business.
If you think your family business is eligible for VAT but you don’t know where to begin, our chartered accountants can register your business for VAT on your behalf.
UK companies are rewarded with Research and Development tax credits if they have invested in innovation. If you think you could be eligible, contact our team below.
As a family business, you may want to explore advice relating to inheritance tax, audit work, personal wealth succession planning, and general family business accounting. If you’re looking for advice in these areas, rest assured our team can provide these services for our clients.Contact Our Team
Family businesses must remain fully compliant with UK tax legislation for their accounts, VAT, and Payroll. TaxBite accountants can support, advise, and help protect family businesses while they continue to grow and flourish.
Our accountants can help your family business plan for the future and navigate all the obstacles that may come up along the way. We work hard to ensure we understand each family business fully to protect our clients’ personal wealth from one generation to the next.
Managing family businesses can present issues that are unique to a family-run structure. Family business issues can range from personal and business-related family conflicts to tensions and disagreements. Our advisors can help manage each case with mitigation skills.
Selling a family company can also present certain challenges relating to the protection of your family’s future, as well as anyone else who’s part of the team. Our team are here to support you in selling your family business.
We can also help manage and carry out succession planning for your family business, ensuring the transition is as smooth as possible, along with reputation management.
Our business advisors and accountants can help you pass down the family business when you retire, assisting the next generation in picking up where you left off without leaving them in the dark.
Family businesses need to maintain a steady rate of growth in order to thrive and survive. Our family business accountants and advisors can help you create and outline a clear strategy and business goals to continue growing and flourishing in 2022.
On that topic of retirement, our advisors can help you create a carefully considered business approach to retirement, ensuring the later generations are set up for success and planning for a compelling future at the company.
As a small family business, you’ll want to ensure your business structure is effective from the get-go. That’s why our accountants will spend time and effort working with you to ensure your structure is spot-on.
As every business is unique and different, you’ll want a unique structure that fits you and your family. While limited liability partnership registered businesses are a common structure for family businesses, it may not be the best structure for you. Contact us below, and a member of the TaxBite team will be in touch to discuss this further.
Choosing accountants from TaxBite will ensure you’re fully up to date with the latest legislation relating to tax and financial aspects of running a family business.
The chartered accountants at TaxBite are proud to service many family businesses, enabling them to flourish while remaining completely compliant with UK taxation law.
Click the button below to get started, obtain more details, hear from our current clients, receive updates and advice, or contact our support team for another reason. Our team of family business advisors and accountants will be in touch shortly after your submission.Dedicated Accountants
As experts in family business accounting services, the team at TaxBite can also help with financial planning and advice, succession planning, and inheritance tax planning from generation to generation, with a comprehensive range of proactive advice and expertise available.
Click the button below to discuss how we can help you with your family-owned businesses, and learn more about our knowledge and the advice we provide to our business clients.