O'Reilly logo

Small Business Tax Planning: All you need to know from start-up to retirement by Russell Cockburn

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

11. Implications of Retirement for the Business Owner

A change in tax status

When you retire from active participation in your business your tax status changes significantly. As someone actively engaged in running a business your investment in that enterprise, be it a limited company, sole tradership or partnership, normally qualifies for valuable tax status. After you have retired this no longer applies so retirement can mean that you face extra potential tax liabilities and is thus something to be carefully considered – the advantages and disadvantages should be considered in detail.

Retirement will also inevitably mean that those you have chosen to succeed you in the running of the business, if you are not selling it off, will probably ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required