Successful initial years are then rapidly followed by growth. This is where income levels start to grow and one can look at building capital.

There may also be implications from growth, including an additional requirement for finance, capital and cash flow. For example the desire for a new car or home comes to the fore.

In business the same demands arise if they evolve quickly with rapid growth in sales, profits and size of organisation. As such it is imperative that appropriate agreements exist between shareholders / partners to avoid disputes which also secure valuable tax advantages on disposal. Anticipating financial risk associated with ‘catastrophe’ e.g. the critical illness or death of the owners and other key contributors is essential.

At this stage we look to formulate a policy for extracting profits from a growing income or business in the most tax efficient manner to start the process of some financial independence. Also to further strengthen any underpinning of the risks that now exist.

To take full control of your financial future and manage your wealth, please contact Ian White or Richard Edney on 0844 05022 99 or email enquiries@abacusnetwork.co.uk