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Profit Extraction and Succession Planning in OMBs

2 Part Course  |  Learn about the many and varied tax issues related to profit extraction and succession planning in OMBs

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A one-day OMBs course presented over two-half days in a virtual class from 9:30am to 1:00pm UK time

This profit extraction and succession planning course covers two main elements:

Part One - Profit Extraction

  • Optimum mix of salary/interest/dividends
    • Impact of recent tax rises
  • Use of directors’ loan accounts
  • Using capital reductions to create distributable profits
  • Removing assets from a company via dividends in specie
  • Alphabet shares
  • Dividend waivers
  • Uses capital reductions to create distributable profits

Part Two - Succession Planning

The second half-day OMBs training course investigates:

  • Share buy-backs
    • Case study in the context of succession planning
  • Spreading shares around a family – CGT tips and traps
  • Pre-death planning in family companies  
  • Use of trusts of family company shares
  • When Business Property Relief (BPR) is not available to mitigate inheritance tax (IHT)
  • The particular IHT problems with cash-rich companies
  • Use of 'freezer shares'
  • Some key corporation tax issues (e.g. Substantial shareholding Exemption)
  • Hive-downs
  • Demergers (statutory/liquidation/capital reduction)
    • Case study on using a capital reduction demerger to demerge property from a trading company
  • Finally, this OMBs training session investigates the importance of obtaining ‘clearance’ before undertaking a transaction

Case study - Comparison of a buy-out with a share buy-back when passing a company on to children

Redcliffe’s profit extraction and succession planning course trainer is a Chartered Accountant who qualified with PwC in 1988. He moved from PwCs Corporation Tax department in 1989 to join a leading financial training company as a tax tutor. Since 1992, he has built his reputation as a self-employed professional tutor and training consultant. Specialising in tax update courses for accountants, lawyers and investment managers, this trainer has extensive experience training delegates in profit extraction and succession planning in OMBs.

Our succession planning training expert speaks at conferences of various professional bodies, including the CIOT, and writes regularly for Tax Insider.

This profit extraction and succession planning training course makes delegates aware of:
  • Advantages and drawbacks of the different profit extraction methods from private companies, including the impact of dividend tax rises in 2022 and corporation tax rises in 2023
  • Tax issues and problems associated with overdrawn directors’ loan accounts
  • When capital distributions on a striking off or winding up may be taxed as income
  • Practical problems when share buy-backs are used for profit extraction or succession planning
  • The key CGT and inheritance tax (IHT) issues when passing on shares to family members, in particular:
    • Protecting business asset disposal relief
    • Avoiding IHT charges
    • The problems with cash-rich companies
  • Tax issues associated with hive-downs and demergers
  • Clearances and other compliance issues
  • Any relevant changes announced in the Spring 2024 Budget are covered in succession planning training

  • As a previous Chartered Accountant with extensive experience in tax training, our course leader has written for publications such as Taxation and Tax Insider
  • Our Profit Extraction and Succession Planning in OMBs course covers a range of business and personal taxes
  • Delegates are provided with many numerical examples and short case studies to aid understanding of potential tax exposure
  • Tax traps and planning areas are highlighted throughout, along with relevant cases

This interactive profit extraction and succession planning training course considers the numerous, varied tax issues related to profit extraction and succession planning in OMBs. Covering a range of taxes, the course includes recent changes in legislation, guidance from HMRC and key case law, alongside several numbers-based examples and short case studies.

  • The succession aspects of the course were great
  • It was very well presented
  • Excellent and approachable speaker. Good level of detail in the course slides and well explained cases with application to real life scenarios. Extremely useful and interesting course
Number of places:
Part 1

£ 695.00

Number of places:
Part 2

£ 695.00

Discounts available:
Virtual Class

  • 2 places at 30% less
  • 3 places at 40% less
  • 4 places at 50% less
  • 5 places at 55% less
  • 6+ places at 60% less
  • Select the number of course places and dates to automatically calculate the discount
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